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Oracle Shares Soar on Strong Earnings and Nvidia Partnership Tease

The tech giant's fiscal third-quarter earnings beat expectations, driving a 12% stock surge and anticipation for a significant Nvidia collaboration.

  • Oracle's shares surged by 12% following a fiscal third-quarter earnings report that exceeded analysts' expectations.
  • The company announced an upcoming joint announcement with Nvidia, hinting at a significant partnership.
  • Oracle's cloud revenue jumped 25% in the third quarter, with a 29% increase in its sales backlog, driven by strong demand for AI infrastructure.
  • Analysts have raised their price targets on Oracle stock, reflecting confidence in the company's cloud and AI growth trajectory.
  • Oracle plans to introduce new healthcare-focused offerings, leveraging AI to modernize health systems.
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