Oracle Corp. shares surged to a record after the company gave an aggressive outlook for its cloud business, stunning Wall Street and galvanizing hopes that the post-ChatGPT global AI infrastructure build-out is accelerating.
The company is on track to add about $200 billion to its market value if the stock’s 30% premarket gain holds through Wednesday’s trading. AI-related stocks such as chip developer Nvidia Corp. and its Asian suppliers also climbed.
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