PCRFF - Oracle's Strategic Pivot To AI And Cloud Computing Yields Market Cap Surge: Report | Benzinga
Oracle Corporation (NYSE:ORCL) has emerged as an unexpected victor in the artificial intelligence revolution, marking a significant week for the tech giant.
The notable advancement for Oracle in AI technology was underscored by a surge in market capitalization to nearly $400 billion, driven by its successful pivot to cloud computing.
Oracle’s cloud services have been crucial for AI innovators like OpenAI, utilizing Oracle’s infrastructure to support expansive language models, reported Financial Times.
Oracle’s shift in strategy has proved fruitful, with shares soaring by 13% on Wednesday alone, adding $45 billion in market value.
This increase is attributed to Oracle’s “remaining performance obligations” (RPO), which reflect future ...