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Oracle's Record-Breaking Surge Defies Tech Struggles and Converts Biggest Bear.

Originally Published 2 years ago — by CNBC

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Source: CNBC

Oracle's shares have surged by over 50% in 2023, marking the best year for shareholders since the dot-com boom of 1999, after reporting stronger-than-expected earnings and revenue. The company is seeing accelerated growth thanks to the craze around generative AI, and is a significant investor in Cohere, an enterprise-focused generative AI startup. Oracle is worth $330 billion as of Wednesday's close, while Salesforce's market cap sits at $204 billion.