Oracle (ORCL 3.18%) has been in fine form on the stock market in the past three months, registering a gain of 60% as of this writing and far outpacing the S&P 500 index's gains of 10.6%. The good part is that Oracle's terrific rally is likely to continue thanks to a new development that turned Wall Street analysts even more bullish on the stock.
Oracle Inc (NYSE: ORCL) inched up another 2.0% to print a new all-time high on Thursday after announcing a landmark cloud infrastructure agreement with OpenAI. In a press release this morning, the multinational said OpenAI has agreed to lease 4.
It has been revealed that OpenAI is the customer behind a $30 billion annual cloud deal with Oracle Corp (NYSE:ORCL, ETR:ORC) disclosed earlier this week. According to multiple media reports citing sources with knowledge of the deal, OpenAI will rent about 4.5 gigawatts of data center power across multiple US sites as part of its Stargate initiative.
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