Why Oracle Stock Just Jumped
Oracle shares rallied Thursday after two neoclouds posted blowout earnings, but does this AI tailwind justify the stock's risks?
Overview
Oracle Corporation (NYSE: ORCL) stock was up 5.9% as of 2:38 p.m. ET on Wednesday. The S&P 500 and the Nasdaq Composite were up 0.4% and 0.7%, respectively.
Shares of the hyperscaler and tech giant are gaining after CoreWeave and Nebius -- two so-called neocloud companies -- reported a fresh round of strong earnings.
Details
CoreWeave released its Q2 numbers yesterday after the market closed. Revenue was up an incredible 112% while its backlog grows even faster. The company says its pipeline grew from about $25 billion this time last year to more than $100 billion today.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.