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Oracle Beats on Profit, Teases Nvidia Announcement

Oracle Corp (NYSE:ORCL) stock was last seen up 10.1% to trade at 125.70,afterthetechcompanybeatfiscalthirdquarterearningsthanksinparttoartificialintelligence(AI)demand.ThecompanyalsoteasedajointannouncementwithchipgiantNvidia(NVDA)aheadofaglobalAIconferencefordevelopersonMonday,March18.ORCLdrewnofewerthan16pricetargethikesinresponse,thehighestcomingfromMizuhoto125.70, after the tech company beat fiscal third-quarter earnings thanks in part to artificial intelligence (AI) demand. The company also teased a joint announcement with chip giant Nvidia (NVDA) ahead of a global AI conference for developers on Monday, March 18.ORCL drew no fewer than 16 price-target hikes in response, the highest coming from Mizuho to 160 from $140. Analysts remain split on ORCL, however, with half the brokerage firms in c ...