Oracle Shares Surge on AI Cloud Growth and Profitability Confidence
TL;DR Summary
Oracle shares rose after announcing that its AI cloud infrastructure projects could achieve a gross margin of 35%, alleviating concerns about profitability. The company expects to reach $225 billion in annual revenue by 2030, surpassing analyst estimates, with a projected $21 per share in profit, driven by large deals with major AI players like OpenAI and Meta.
- Oracle Rallies After Saying AI Cloud Gross Margin Can Be 35% Bloomberg.com
- Oracle stock jumps 4% as company says cloud revenue will skyrocket to $166B by 2030 Yahoo Finance
- Oracle Assures Investors on AI Cloud Margins as It Struggles to Profit From Older Nvidia Chips The Information
- Oracle stock rises as company confirms Meta cloud deal CNBC
- Oracle’s stock rises as Wall Street’s AI profitability concerns are put to rest MarketWatch
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