Oracle, AI
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While Oracle has traditionally been viewed as a legacy database provider, its aggressive pivot toward Oracle Cloud Infrastructure (OCI) has sparked a
Oracle CEO Clayton Magouyrk said on an earnings call the company's model of having customers provide data chips for new data center builds is working.
Ader reiterated an Overweight rating on Oracle shares with a price target of $300. Some analysts adjusted their outlooks following the results. BMO Capital Markets analyst Keith Bachman lowered his price target to $200 from $205 while maintaining an Outperform rating.
The cloud and AI specialist beat expectations and increased its guidance for next fiscal year.
Oracle's $300 billion deal with OpenAI established it as a major player in AI cloud computing alongside Amazon, Google and Microsoft.
Oracle shares jumped 9.2%, snapping a three-day losing streak, after the company reported strong demand for cloud computing to train and run artificial intelligence. Earlier in the day,
Oracle has added Cerebras AI chips to its cloud infrastructure, alongside Nvidia and AMD hardware. Oracle, CEO Clay Magouyrk, said that Oracle is utilising these chips to deliver AI workloads and large-scale computing workloads. Cerebras CEO Andrew Feldman ...
Oracle launched $50 billion financing plan to fund AI data centre expansion. Oracle raised $5 billion through a convertible preferred stock offering. The financing deal was oversubscribed, signalling strong investor demand.