Tech stocks today: Oracle stock pops after earnings beat; AI in focus - Yahoo Finance
Oracle reported strong fiscal results driven by a 121% surge in cloud infrastructure sales, causing its stock to rise. Meanwhile, the tech industry is debating the existential risks of AI, with some researchers warning of catastrophic outcomes while political leaders prioritize global AI dominance.
Why it matters
The tension between rapid AI commercialization and safety concerns is becoming a central theme in both corporate strategy and national policy.
Oracle posted strong revenue and earnings for its first quarter of fiscal year 2027. The stock popped after the report but wavered in Friday morning trade. The company, which has been building out data centers for customers like OpenAI (OPENAI.PVT), said its total quarterly revenue grew 30% to $19.3 billion versus $19.13 billion expected by Wall Street. The top-line result was driven largely by a 121% jump in cloud infrastructure sales of $7.4 billion.Adjusted earnings per share also rose 30% to $1.92 versus $1.75 expected by Wall Street."Customer demand for AI Cloud Training and Inferencing Services continues to grow faster than supply," said the company in its earnings release.On the AI front, two researchers have issued stark warnings about the future AI.
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