Oracle beats quarterly results estimates on cloud services demand, shares rise
Cloud
Oracle beat Wall Street estimates for fourth-quarter results on Wednesday, boosted by growing demand for its cloud offerings from companies deploying artificial intelligence, sending its shares up 7 per cent after the bell. The company's growth is largely nurtured by its Oracle Cloud Infrastructure (OCI) solution and support for AI workloads. Analysts see the company becoming more of a cloud service provider that relies less on software growth. "We expect our total cloud growth rate —
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