March 10 (Reuters) - Oracle on Tuesday predicted that the AI data center boom will power its revenue above Wall Street estimates well into 2027, sending its shares up 8.3% in extended trading.
The results help to allay investor concerns that Oracle's costly multi-billion dollar push into AI computing would not generate profits quickly enough.Oracle has made a dramatic turn toward building data centers for partners such as OpenAI and Meta, while at the same time enacting layoffs as it uses smaller engineering teams and AI coding tools to roll out new software for its longtime customer base of large businesses.
