Oracle Corporation reported a strong quarter driven by surging demand for artificial-intelligence computing in its cloud business. Revenue reached about $17.2 billion and adjusted earnings were $1.79 per share, both beating expectations and marking the first time in more than 15 years that the company posted over 20% growth in both revenue and earnings in the same quarter.
The growth was fueled largely by Oracle’s cloud infrastructure unit, which saw massive demand from companies building and running AI systems. The strong results pushed Oracle’s stock higher and reinforced investor confidence that its heavy investments in AI infrastructure are beginning to pay off.
