Oracle Corporation has announced an impressive surge in revenue, primarily fueled by its expanding AI cloud business. This growth has sparked significant interest in the company's future prospects, with projections indicating a potential revenue of $144 billion by 2030. The publication demonstrates positive momentum in the developments.
Oracle's Cloud Revenue Projections
In a recent statement, CEO Safra Catz highlighted that Oracle anticipates its cloud infrastructure revenue to increase by 77%, reaching $18 billion in the current fiscal year. This optimistic outlook is expected to continue, with further growth anticipated in subsequent years.
Impact on Stock Market
The announcement has had a positive impact on the stock market, resulting in a 23% rise in Oracle's share price. This surge reflects strong investor confidence in the company's strategic direction and its ability to capitalize on the booming demand for AI-driven cloud solutions.
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