Oracle’s shares climbed as much as 10 per cent on Tuesday after it posted better than expected earnings and revenue guidance as it tried to reassure investors about its big bet on AI data centres.
The database group founded by Larry Ellison beat Wall Street expectations with $17.2bn in revenues in its fiscal third quarter, up 22 per cent from a year ago, and a forecast of $90bn for sales in its next fiscal year.
Oracle credited strong “demand for cloud computing for AI training and inferencing” with helping it “comfortably meet and likely exceed our revenue growth rate forecast for [2027] and beyond”.
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