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CNBC Top News·2 min read

Oracle stock spikes 12% as strong Q3 earnings answer Wall Street AI buildout concerns

Oracle's stock rises after strong earnings report

Oracle's stock surged 12% following the release of its strong third-quarter earnings, which alleviated investor concerns regarding its AI cloud computing initiatives. CEO Clayton Magouyrk highlighted the company's innovative 'bring-your-own-hardware' model and confirmed that Oracle will not issue more bonds in 2026 beyond previously disclosed plans, as the company continues to expand its AI infrastructure.

Key Takeaways

1.
Oracle reported third-quarter cloud revenue of $8.9 billion, a 44% increase from last year.
2.
CEO Clayton Magouyrk announced the company signed over $29 billion in contracts using its new model.

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Oracle stock spikes 12% as strong Q3 earnings answer Wall Street AI buildout concerns | Trace