Oracle rallies as strong revenue forecast eases concerns over massive AI bets

Oracle shares surged about 10% before the bell on Wednesday after the software giant’s upbeat revenue forecast calmed worries over faster returns from its hefty spending on artificial intelligence infrastructure.

The company has poured billions of dollars toward building data centers for partners like OpenAI and Meta, while trimming staff and using smaller, AI-assisted teams and tools ‌to develop software ⁠for ⁠its traditional customer base and businesses.