Oracle stock jumps 39% on Wednesday, nearing a $1 trillion market cap

Oracle stock blasted 39% higher on Wednesday, catching everyone off guard, and pushing its market value past $900 billion, just steps from the $1 trillion ￰0￱ Cryptopolitan previously reported , the last time the company saw a day like this was in ￰1￱ this one came with some serious firepower: demand for cloud services was ￰2￱ Tuesday, Oracle reported $455 billion in remaining performance obligations (RPO). That number alone sent shockwaves. It’s up 359% from a year ￰3￱ context, analysts were expecting maybe $180 billion. “This is a very historic kind of print right here from Oracle with this backlog,” said Ben Reitzes from Melius Research on CNBC.

“The Street was looking for about $180 billion in RPO and they’re talking about a number that is a multiple of ￰4￱ is astounding.” Oracle rides AI mania better than most The big boom in Oracle’s stock didn’t happen by luck. It’s tied directly to the explosion in AI ￰5￱ runs massive cloud infrastructure operations and has deep access to Nvidia’s GPUs, the exact tech that fuels heavy AI ￰6￱ combo puts Oracle right in the middle of the AI arms race, competing with Microsoft, Amazon, and ￰7￱ company now expects $18 billion in cloud infrastructure revenue by fiscal ￰8￱ they’re projecting some massive growth after that: $32 billion, $73 billion, $114 billion, and finally $144 billion over the next four ￰9￱ aren’t casual ￰10￱ are hard forecasts from a company that just blew the roof off Wall Street ￰11￱ surge also rocked the leaderboard of ￰12￱ founder Larry Ellison just gained about $100 billion in net worth, according to ￰13￱ bump was enough to push him past Elon Musk, making Ellison now the richest person in the ￰14￱ react as market adjusts The analyst crowd didn’t hold ￰15￱ CNBC’s Fast Money , Gil Luria from ￰16￱ called the results “absolutely staggering”.

Others described themselves as “blown away” and “in shock.” Over at Deutsche Bank, they called the quarter “truly awesome” and raised their price target from $240 to $335. “In our near 20 years covering Oracle and for that matter the entire Software industry, there are few quarterly results that match F1Q both in terms of magnitude of revision and clarity of the moment,” the Deutsche note ￰17￱ Fargo called the results a “momentous confirmation” of the AI ￰18￱ Bank of America didn’t sit out either, they upgraded the stock to buy from neutral. “Although profitability of AI workloads remains a key debate, it is clear that Oracle is capturing share in the large and rapidly growing market for AI infrastructure,” their note ￰19￱ called the $455 billion backlog “exceptional” and said Oracle is now seen as a “key AI enabler.” Oracle’s outstanding performance rubbed off on the entire market, with the S&P 500 hitting a record intraday high before pulling back a bit, ending up just 0.1% by Closing ￰20￱ Nasdaq Composite dipped by 0.3% after touching its own record earlier in the ￰21￱ the Dow Jones dropped 272 points, or 0.6%, dragged down by Apple after a weak response to its latest iPhone ￰22￱ smartest crypto minds already read our ￰23￱ in?

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