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Why Oracle Stock Is Skyrocketing Today

TheMotleyFool 
0 0 22.01.25
Why Oracle Stock Is Skyrocketing TodayPhoto, wide shot, wide-angle lens, soft focus, IT consulting firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-uhXP0RHYYxDepjmHeSp1K8bF.png?st=2023-05-07T15%3A26%3A44Z&se=2023-05-07T17%3A26%3A44Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-07T16%3A18%3A55Z&ske=2023-05-08T16%3A18%3A55Z&sks=b&skv=2021-08-06&sig=4pcJOd8aEI1799liUV13F4ElqO7e4RZy8sa1PEeeNZA%3D
 

Shares of Oracle (NYSE: ORCL) are flying higher on Wednesday. The company's stock is up 6.4% as of 11:20 a.m. ET, but gained as much as 11.3% earlier in the day. The sharp move came as the S 500 and the Nasdaq Composite gained 0.7% and 1.3%, respectively.

Oracle is at the heart of Project Stargate, the new artificial intelligence (AI) initiative announced by President Trump on Tuesday. The company is also benefiting from recent developments in the TikTok ban saga.

One of the more high-profile initiatives that came out of the last two days, Project Stargate will pour billions of dollars into AI infrastructure in order to keep America's edge in the potent technology. The program, coordinated by Trump's team, will include $500 billion in private investment between Softbank, OpenAI, and Oracle. Oracle's CEO, Larry Ellison, was present at the announcement.

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Source Fool.com

Oracle Corp. Stock

€127.10
1.830%
There is an upward development for Oracle Corp. compared to yesterday, with an increase of €2.28 (1.830%).
With 94 Buy predictions and 1 Sell predictions Oracle Corp. is one of the favorites of our community.
Based on the current price of 127.1 € the target price of 258 € shows a potential of 102.99% for Oracle Corp. which would more than double the current price.
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