Posted 3/22/2024, 8:30:00 AM
Oracle's AI Growth Accelerates with 25% Cloud Revenue Jump and 40 New Billion-Dollar Deals
- Oracle's cloud revenue grew 25% last quarter due to increasing demand for AI applications
- Oracle signed over 40 new billion-dollar AI deals and is rapidly expanding its cloud data centers
- Oracle offers over 50 generative AI use cases across multiple verticals like sales, marketing, HR
- Oracle stock trades at attractive valuations compared to tech stocks despite its fast-growing AI business
- Analysts expect Oracle's earnings growth to accelerate, and its share price could jump 70% in 2 years