Shares in AI-focused stocks such as Palantir Technologies, C3.ai, Advanced Micro Devices, and Nvidia, rose after Oracle’s strong earnings report. Oracle reported revenue of $13.8 billion in the fiscal fourth quarter, with adjusted earnings of $1.67 a share, beating analysts’ estimates. The company also extolled the impact of AI demand on its cloud business, which investors were pleased to hear. Mizuho Securities analysts raised their price target on Oracle stock to $150 from $116, reiterating a buy rating and stating that investors continue to underestimate Oracle’s potential for growth. Oracle’s rival, Adobe, also saw its stock rise around 2%.
AMD, Nvidia, C3.ai, and Other AI Stocks Rise After Oracle’s Earnings
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