Oracle Sparks Bubble Talk With Stock Price in Dot-Com Territory
(Bloomberg) — For anyone concerned that artificial intelligence is fueling a bubble in technology stocks, Oracle Corp. (ORCL) has entered the conversation.
Shares of the database software company have soared 84% this year, the seventh-best performance in the S&P 500 Index (^GSPC), as scorching demand for AI computing turbocharges its revenue growth. The latest leg of the rally came after Oracle projected revenue in its cloud-computing business will jump 700% in the next three fiscal years, sending the stock up 36% on Sept. 10.
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