Oracle (ORCL) shares have soared over +10% in today's trading session after the cloud provider was able to exceed top and bottom line expectations for its fiscal first quarter on Monday evening.
Oracle is designing a data center that would require more than a gigawatt of power, chairman and co-founder Larry Ellison said. The data center would be powered by three small modular nuclear reactors, Ellison told investors this week.
Larry Ellison, founder and chairman of Oracle, says the entry price to fight in the arena for artificial intelligence is around $100 billion.
We're upgrading Oracle to a buy as we see green shoots for FY25. Oracle's 1QFY25 results and new AWS partnership lead us to believe the company's multi-cloud strategy will translate to a re-acceleration in top-line growth in a friendlier macro backdrop. The company reported sequential RPO growth this quarter, offsetting the seasonal decline usually experienced in Q1 and further confirming momentum.
BofA Securities analyst Justin Post maintained a Buy rating on Amazon.Com Inc AMZN with a price target of $210.
Oracle Corp (NYSE:ORCL, ETR:ORC) shares surged after the cloud technology firm announced a new partnership with Amazon Web Services (AWS), Amazon.com Inc (NASDAQ:AMZN)'s Cloud division, called oracleDatabase@AWS which will connect Oracle's databases with AWS applications. Database@AWS will be rolled out in 2025 and will run on dedicated infrastructure to provide a low-latency bridge between the two Clouds.
Oracle shares have risen 50% in 2024 after a boffo earnings report. That increase is far more compelling than the rise in shares of Amazon (+17%), Apple (+18%), Google (+7%), and Microsoft (+9%).
Oracle beat sales and earnings expectations in fiscal Q1. Management issued solid performance guidance for the current quarter.
ORCL's fiscal first-quarter performance benefits from cloud revenue growth and a steady adoption of strategic cloud applications, autonomous database and OCI.
Oracle continues to see strong demand for its AI infrastructure, which is fueling Nvidia's growth potential.
Cloud stock Oracle Corp (NYSE:ORCL) is soaring to all-time highs today, following the company's better-than-expected fiscal first-quarter results.
Oracle NYSE: ORCL will have to triple in value to hit the $1 trillion mark and have a valuation on par with today's Magnificent 7, but it can do it. Its FQ1/CQ3 results reveal its growing importance to Internet infrastructure, the cloud, and AI, which is accelerating revenue and earnings growth.