Oracle climbs to record high as AI-frenzy spurs Cloud demand


Strong growth: The Oracle offices in Redwood City, California. The company’s Cloud sales gained 54% in the financial fourth quarter to US$4.4bil (RM20.3bil) after a 45% jump in the previous period. — Bloomberg

NEW YORK: Oracle Corp gave investors a boost by saying the company’s cloud-computing business will continue to grow rapidly in the coming financial year after a strong performance in the past quarter.

Shares, which had jumped to a record high at the close, rose another 3% in extended trading.

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