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Why Oracle Stock Just Jumped

TheMotleyFool

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Oracle Corporation (NYSE: ORCL) stock was up 5.9% as of 2:38 p.m. ET on Wednesday. The S 500 and the Nasdaq Composite were up 0.4% and 0.7%, respectively.

Shares of the hyperscaler and tech giant are gaining after CoreWeave and Nebius -- two so-called neocloud companies -- reported a fresh round of strong earnings.

CoreWeave released its Q2 numbers yesterday after the market closed. Revenue was up an incredible 112% while its backlog grows even faster. The company says its pipeline grew from about $25 billion this time last year to more than $100 billion today.

Source Fool.com