Oracle jumps about 11% after new financial targets on its AI spending
FROM THE WIRE · FINANCE.YAHOO.COM
For months, investors have asked how Oracle (ORCL) would pay for its AI build-out. On Wednesday the company put numbers on it, and the stock had its best day since May. Shares closed up about 11% at about $144 Wednesday, adding more than $40 billion in market value, as the…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bullishA sharp rally in a major AI cloud player, adding more than $40 billion in market value.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Oracle shares closed up about 11% at about $144.
- 02Oracle expects about $30 billion in free cash flow in the fiscal year ending May 2029.
- 03The company burned through about $24 billion in the prior fiscal year.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets