Oracle shares rise after AI cloud backlog beats estimates
Oracle (ORCL) shares rose 5.5% premarket after the company reported stronger-than-expected quarterly results and booked more than $30 billion of additional AI cloud contracts.
5% in premarket trading on Friday after the cloud computing and software company posted stronger-than-expected quarterly results, easing concerns about its debt-funded spending spree. The Austin, Texas-based company booked more than $30 billion of additional AI cloud contracts.