Larry Ellison In Oracle Earnings Report: 'As of today, AI development companies have signed contracts to purchase more than $4 billion of capacity in Oracle's Gen2 Cloud.'
Portfolio Pulse from Bill Haddad
Larry Ellison, in Oracle's earnings report, announced that AI development companies have signed contracts to purchase more than $4 billion of capacity in Oracle's Gen2 Cloud.
September 11, 2023 | 8:07 pm
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Oracle's Gen2 Cloud has secured contracts from AI development companies worth over $4 billion, which could boost Oracle's revenues.
The news of AI development companies signing contracts worth over $4 billion for Oracle's Gen2 Cloud is directly related to Oracle's business. This could potentially increase Oracle's revenues and positively impact its stock price in the short term.
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