Oracle stock rises as company confirms Meta cloud deal

Core Insights - Oracle's shares increased by up to 5% following positive expectations for business growth in core categories and the confirmation of a cloud-computing deal with Meta [1] - The company anticipates $20 billion in revenue from AI-powered database and AI data platforms by the fiscal year 2030, a significant rise from $2.4 billion in fiscal 2025 and $3 billion in fiscal 2026 [2] Business Developments - Oracle secured $65 billion in new cloud infrastructure commitments within 30 days during the current quarter, indicating strong demand for its services [3] - The new contracts were spread across seven different agreements with four customers, including Meta, but not limited to OpenAI [4] - Meta is expected to invest between $66 billion and $72 billion in capital expenditures this year, reflecting a broader trend of tech companies investing heavily in AI infrastructure [5] Strategic Partnerships - Oracle has established a commitment from OpenAI exceeding $300 billion, showcasing its strong position in the AI market [6]