Oracle (ORCL)

Oracle shares gained almost 10% in extended trading after the company posted strong results and gave an outlook that suggested there is little letup in demand for AI computing. Revenue in Oracle’s infrastructure business increased 84% to $4.9 billion in the period ended February 28, and total revenue will reach $90 billion in the fiscal year beginning in June. The company is working to deliver on massive cloud infrastructure contracts with customers like OpenAI and Meta Platforms and said the demand for cloud computing for AI training and inferencing continues to grow faster than supply.