Oracle's shares jumped 7 percent after the company reported results that beat market expectations, CNBC reported on March 10.
Oracle also raised its 2027 revenue guidance to $90 billion.
In the fiscal quarter ended in late February, Oracle's total revenue rose 22 percent from a year earlier, while cloud revenue jumped 44 percent to $8.9 billion.
Cloud infrastructure revenue rose 84 percent, and the company secured major customers including Air France-KLM, Argonne National Laboratory, Lockheed Martin and SoftBank. This is seen as a result of an explosive rise in cloud demand from AI companies.
But Oracle shares have fallen more than 50 percent from their September peak. Intensifying competition in the AI market and a heavy debt burden have acted as sources of anxiety among investors.
Chi-gyu Hwang
delight@d-today.co.kr