Oracle Soars on Strong AI Cloud Sales, Fiscal-Year Outlook

Oracle Corp. shares soared as much as 15% on Wednesday after the software and cloud services company reported strong sales and issued an outlook that suggests little letup in demand for AI computing.

Revenue in Oracle’s closely watched infrastructure business jumped 84% to $4.9 billion in the three months ended Feb. 28, the company said Tuesday in a statement, surpassing the 79% that analysts had expected and up from 68% in the previous quarter. Total revenue will reach $90 billion in the fiscal year beginning in June, Oracle said, also handily beating analysts’ projections.