Oracle reported a massive jump in bookings of future artificial intelligence business for its cloud infrastructure unit on Tuesday, propelling shares in the US database company up 27 per cent to a record high in after-hours trading.
The company’s remaining performance obligations — business it has booked that will feed through into future revenue — leapt to $455bn, up from only $138bn three months ago.
Safra Catz, chief executive, called it an “astonishing quarter” that had included Oracle signing “four multibillion-dollar contracts with three different customers” in the latest three months.
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