Oracle shares jump on Google and OpenAI deals despite earnings miss

Posted under: Tech Move
Date: 2024-06-12
Oracle shares jump on Google and OpenAI deals despite earnings miss

Oracle shares jumped as much as 11% in extended trading on Tuesday after the software maker announced cloud deals with Google and OpenAI, despite fourth-quarter results that fell short of Wall Street expectations. Oracle said in a statement on Tuesday that it would bring its database to Google’s cloud, with availability coming in November. Organizations will be able to deploy workloads in Google and Oracle cloud data center regions without being subject to data-transfer charges, Oracle said.

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