Oracle’s blockbuster surge shows AI trade’s growing influence on market

Wall Street’s “AI trade” has propelled the market to record highs this year, and Oracle’s stunning share-price gains are giving investors another reason to back the trade.

Oracle shares jumped 36% on Wednesday after the company pointed to a demand surge from AI firms for its cloud services. The surge lifted its market value to $922 billion, leapfrogging the values of Eli Lilly LLY.N, JPMorgan Chase JPM.N and Walmart WMT.N.