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Oracle's stock soared 30% as the company projects massive cloud revenue growth fueled by AI demand.
Oracle's stock surged over 30% after the company reported strong growth in its cloud business, driven by AI demand.
Despite missing Wall Street's revenue and earnings targets, Oracle forecast a massive increase in cloud revenue, reaching $18 billion this year and $144 billion by 2030.
The company signed four large contracts, pushing its backlog to $455 billion.
Oracle's CEO, Safra Catz, highlighted the company's competitive edge in AI infrastructure and its potential to outperform rivals like AWS and Azure.
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Las acciones de Oracle se dispararon 30% a medida que la compañía proyecta un crecimiento masivo de los ingresos de la nube impulsado por la demanda de IA.