Oracle sees AI boom through at least 2027, sending shares up 8%

Oracle on Tuesday predicted that the AI data center boom will power its revenue above Wall Street estimates well into 2027, sending its shares up 8.3% in extended trading.

The results help to allay investor concerns that Oracle’s costly multi-billion dollar push into AI computing would not generate profits quickly enough. Oracle has made a dramatic turn toward building data centers for partners such as OpenAI and Meta, ‌while at the same ⁠time enacting ⁠layoffs as it uses smaller engineering teams and AI coding tools to roll out new software for its longtime customer base of large businesses.