Oracle stock rises as company confirms Meta cloud deal

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Oracle

shares ended Thursday trading up 3% as it called for more business in core categories and confirmed a cloud-computing deal with social media company Meta.

The maker of database software sees $20 billion in artificial intelligence-powered database and AI data platform revenue in the 2030 fiscal year, up from $2.4 billion in fiscal 2025 and $3 billion in fiscal 2026.

“You see the change in these numbers that it’s a little bit easier for us to find supply, not this year or next year, but in subsequent years,” Clay Magouyrk, one of Oracle’s two new CEOs, told analysts Thursday at the company’s AI World conference in Las Vegas. “So as we’re able to find that supply, customers contract for it, we see immense demand, and then we go about delivering that to customers.”