Related News

Quantum stocks surge after JPMorgan investing push into strategic tech

Quantum computing background concept. Blackdovfx | E+ | Getty Images The rally in quantum computing names continued on Monday after JPMorgan Chase announced it as one of the areas it

Chip stocks bounce on Broadcom,OpenAI deal and easing China tensions

A SK Hynix Inc. 12-layer HBM3E memory chip displayed at the Semiconductor Exhibition in Seoul, South Korea. Bloomberg | Bloomberg | Getty Images Chip stocks bounced on Monday, clawing back

Broadcom’s chip president says mystery $10 billion customer isn’t OpenAI

Jaque Silva | Nurphoto | Getty Images Charlie Kawwas, president of the semiconductor solutions group at Broadcom, on Monday suggested that OpenAI is not the mystery $10 billion customer that

Isro opens XPoSat observatory to Indian scientists

Isro opens XPoSat observatory to Indian scientists BENGALURU: Isro on Monday announced the first Announcement of Opportunity (AO) cycle for its X-ray Polarimeter Satellite (XPoSat), inviting Indian scientists and researchers

Xiaomi shares sink most since April after fatal EV crash raises door safety concerns

A Xiaomi electric car SU7 in a store in Yichang, Hubei Province, China on July 19, 2025. Cfoto | Future Publishing | Getty Images Chinese tech giant Xiaomi saw its

First-ever image captures two black holes orbiting each other |

For the first time in history, scientists have captured an image of two black holes orbiting each other, confirming a long-held astronomical theory. Researchers from the University of Turku in

Oracle stock booms 30%, on pace for best day since 1999

Word Count: 190 | Estimated Reading Time: 1 minute

Clode: Oracle delivered a drop the mic number

Oracle stock roared more than 30% Wednesday after reporting gobsmacking cloud demand numbers, setting the company on track for a historic gain.

The cloud giant is on pace for its best day since 1999, and is now quickly approaching the $1 trillion market cap benchmark

The company said it has $455 billion in remaining performance obligations, up 359% from a year earlier.

“This is a very historic kind of print right here from Oracle with this backlog,” Ben Reitzes, technology research head at Melius Research, told CNBC’s “Closing Bell: Overtime” on Tuesday. “The Street was looking for about $180 billion in RPO and they’re talking about a number that is a multiple of that. That is astounding.”

Oracle now sees $18 billion in cloud infrastructure revenue in the 2026 fiscal year, with the company calling for the annual sum to reach $32 billion, $73 billion, $114 billion and $144 billion over the subsequent four years.

Other analysts were left “blown away” and “in shock.” D.A. Davidson’s Gil Luria called it “absolutely staggering on CNBC’s “Fast Money.” Wells Fargo analysts said it was a “momentous confirmation” of the artificial intelligence trade.