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Rich Asplund

AI Optimism Pushes Oracle to a Record High

Oracle Nvidia ORCL Wolfe Research Microsoft Artificial Intelligence

Shares of Oracle (ORCL) rallied to a record high today and may move even higher after Wolfe Research upgraded the stock to outperform. Oracle is up more than +40% this year as optimism has been building that investment in artificial intelligence (AI) will benefit the company. The release of Oracle’s Q4 earnings after today’s close may validate that AI has the potential to boost demand for the company’s cloud-computing business.

Although Oracle trades at a record high, it trades at a discount to other AI software stocks. Bank of America has ranked Oracle second to Microsoft (MSFT) among software companies with AI leadership. Also, Piper Sandler said that AI and cloud tailwinds could mark “the beginning of a new era” at the company. Oracle is the first provider to host Nvidia’s DGX Cloud Service, and Bloomberg reported last week that Oracle and Nvidia (NVDA) are among the strategic investors behind AI startup Cohere.

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