Oracle tops quarterly profit estimates on AI demand, shares surge
Oracle quarterly results: The late-day rally in Oracle's shares added more than $40 billion to its stock market value. The 46-year-old database giant has been trying to reinvent itself as a cloud-computing provider by offering services cheaper than those of rivals such as Amazon.com (AMZN.O).
Oracle (ORCL.N) said on Monday it is set to make a joint announcement with chip-giant Nvidia (NVDA.O), and it beat estimates for quarterly profit. Image: Reuters