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Oracle reported strong cloud growth despite missing revenue targets, with a major deal from OpenAI.
Despite missing revenue targets, Oracle reported a 12% revenue increase to $14.93 billion and a flat net income of $2.93 billion.
The company is heavily investing in AI and cloud infrastructure, with a reported $2.9 billion cash burn in the last quarter and planned $25 billion in capital expenditures for the next fiscal year.
Oracle's stock rose 27% after announcing a 359% jump in cloud business backlog to $455 billion, largely due to a $30 billion deal with OpenAI.
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Oracle informó un fuerte crecimiento en la nube a pesar de no alcanzar los objetivos de ingresos, con un importante acuerdo de OpenAI.