{"id":21942,"date":"2023-06-13T07:17:09","date_gmt":"2023-06-13T11:17:09","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/c3-ai-palantir-amd-nvidia-rise-after-oracle-earnings-bring-more-ai-optimism\/"},"modified":"2023-06-13T07:17:11","modified_gmt":"2023-06-13T11:17:11","slug":"c3-ai-palantir-amd-nvidia-rise-after-oracle-earnings-bring-more-ai-optimism","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=21942","title":{"rendered":"C3.ai, Palantir, AMD, Nvidia Rise After Oracle Earnings Bring More AI Optimism"},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

\n Oracle
\n stock looked set to climb to record highs Tuesday, while
\n C3.ai,<\/span><\/p>\n

Palantir Technologies,<\/span>
\n and other AI-focused stocks also were given a boost after the enterprise software company reported strong earnings.<\/p>\n

Shares in
\n Oracle
\n (ticker: ORCL) closed at an all-time high ahead of the company\u2019s earnings Monday and spiked again in premarket trading after
\n Oracle
\n \u00a0beat earnings expectations in the fiscal fourth quarter. The stock was up 4% in premarket trading.<\/p>\n

\n

Management also extolled the impact of AI demand on its cloud business, something investors were hoping to hear. Oracle stuck to its forecast of $65 billion in sales by 2026, but CEO Safra Catz said \u201cAI demand leaves us significant upside.\u201d<\/p>\n

The upbeat earnings and outlook appeared to give AI-exposed stocks another lift ahead of the open of trading Tuesday.
\n Palantir
\n (PLTR) stock climbed more than 2%, and chip makers
\n Advanced Micro Devices
\n (AMD) and
\n Micron Technology
\n (MU) also gained around 2%.
\n C3.ai
\n (AI) rose 1% and
\n Nvidia
\n (NVDA) climbed 1.2%, while Oracle\u2019s rival
\n Adobe
\n (ADBE) was up around 2.5%.<\/p>\n

D.A. Davidson analyst Gil Luria said Oracle\u2019s cloud business results were \u201csolid,\u201d reiterating a Neutral rating on the stock with a price target of $115.<\/p>\n

\u201cWhile management focused on Oracle\u2019s role in helping enterprises train their own LLMs (language learning models), the overall conversation was focused on underlying drivers of Oracle\u2019s cloud growth,\u201d Luria said. \u201cImportantly, management reiterated its commitment to previously laid out FY2026 targets,\u201d he added.<\/p>\n

Oracle posted revenue of $13.8 billion in the fiscal fourth quarter, ahead of analysts\u2019 estimates of $13.7 billion, according to FactSet. Adjusted earnings of $1.67 a share also beat expectations of $1.58.<\/p>\n

Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oracle stock looked set to climb to record highs Tuesday, while C3.ai, Palantir Technologies, and other AI-focused stocks also were given a boost after the enterprise software company reported strong earnings. Shares in Oracle (ticker: ORCL) closed at an all-time high ahead of the company\u2019s earnings Monday and spiked again in premarket trading after Oracle […]<\/p>\n","protected":false},"author":1,"featured_media":21943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-21942","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nC3.ai, Palantir, AMD, Nvidia Rise After Oracle Earnings Bring More AI Optimism | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Oracle stock looked set to climb to record highs Tuesday, while C3.ai, Palantir Technologies, and other AI-focused stocks also were given a boost after\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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