Oracle Shares Surge on Major AI Cloud Deals Despite Earnings Miss

Partnerships with Microsoft, OpenAI, and Google drive optimism for Oracle's cloud infrastructure growth.

Oracle's stock rose over 9% following announcements of significant cloud deals with Microsoft, OpenAI, and Google Cloud.
Despite a revenue miss, Oracle reported $14.29 billion in Q4 revenue, up 3% year-over-year.
The company has $98 billion in remaining performance obligations, reflecting strong future contract commitments.
Oracle's cloud infrastructure revenue jumped 42% to $2 billion, driven by AI demand.
CEO Safra Catz forecasts double-digit revenue growth for fiscal 2025, fueled by AI and cloud services.