“The company, known for its database software, is focused on expanding its cloud infrastructure unit — which rents computing power and storage — to compete with Amazon.com Inc., Microsoft Corp. and Alphabet Inc.’s Google. While this division produces a small portion of total sales, investors view it as Oracle’s major future growth bet.
Oracle shares jumped as high as 12.7% to $139.60 on Wednesday morning. The stock is up about 30% so far this year.
In the past two quarters, “Oracle signed the largest sales contracts in our history — driven by enormous demand for training AI large language models in the Oracle Cloud,” Chief Executive Officer Safra Catz said Tuesday in a statement.”
https://finance.yahoo.com/news/oracle-reports-strong-bookings-signaling-202204224.html