Oracle Surges; Synopsis Signals Slowdown; Novo Job Cuts
On this episode of Stock Movers:- Oracle (ORCL) surged to a record after the company gave an aggressive outlook for its cloud business, stunning Wall Street and galvanizing hopes that the post-ChatGPT global AI infrastructure build-out is accelerating. Oracle's cloud infrastructure revenue increased 55% to $3.3 billion, with the company signing four multibillion-dollar contracts with three different customers in the quarter and expecting to sign up several additional customers in the coming months.- Coreweave (CRWV) and Nvidia (NVDA) are following the Oracle rally as they have relationships…
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