Oracle Corp. has recently disclosed a cloud services agreement projected to generate more than $30 billion in annual revenue starting in fiscal year 2028. While the name of the customer remains undisclosed, Oracle's database revenue is reportedly growing over 100%. CEO Safra Catz's presentation noted this incredible growth. Following the announcement, Oracle's stock saw a significant rise, reflecting its strategy to capture the market for cloud computing, particularly in AI technologies. This move follows their previous venture with OpenAI, signaling Oracle's robust positioning in the industry.
Oracle Corp. has signed a significant cloud services deal expected to contribute over $30 billion annual revenue from fiscal year 2028, showcasing its growth in the AI market.
The recent surge in Oracle shares, a rise of 26% year-to-date, reflects investor confidence in its cloud services amid increasing demand for computing power.
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