Oracle stock surged over 5% after sealing new cloud deals, poised for record close.

From Yahoo Finance: 2025-06-30 12:58:00

Oracle stock (ORCL) surged over 5% midday Monday, poised for a record close after sealing new multibillion-dollar cloud deals. CEO Safra Catz announced strong FY26 start, with MultiCloud revenue growing over 100% and a $30 billion annual revenue deal expected in FY28. Revenue from cloud services hit $24.5 billion in FY25, total revenue at $57.4 billion.

Shares soared 8.6% to $228, on track for a record close above $215. Stifel analyst upgraded Oracle to Buy, setting a $250 price target citing cloud momentum. The company joined forces with OpenAI and SoftBank for a $500 billion Stargate project, though progress has stalled.

Oracle’s capital expenditures rose from $6.9 billion in FY24 to $21.2 billion in FY25, projected to exceed $25 billion this year. Despite near-term margin pressure, analyst Brad Reback praised management’s expense management. Short seller Jim Chanos warned of AI stock bubble, likening it to dot-com era.

Chanos cautioned of a potential pullback in AI stocks, highlighting risks in the AI ecosystem similar to the dot-com bubble. He stressed the importance of considering the revenue stream’s volatility and potential impact on forecasts. Oracle continues to expand its cloud business amid market uncertainties. 1. The stock market reached record highs today, with the Dow Jones Industrial Average closing at 30,000 for the first time ever. This milestone comes amid positive news about potential COVID-19 vaccines and hopes for a strong economic recovery.

2. In international news, the United Nations has warned of a looming famine in Yemen, with millions of people at risk of starvation. The humanitarian crisis is exacerbated by ongoing conflict and a lack of funding for aid efforts.

3. Tesla CEO Elon Musk has surpassed Microsoft co-founder Bill Gates to become the second-richest person in the world. Musk’s net worth has skyrocketed this year, driven by the success of Tesla’s stock and his other ventures like SpaceX.

4. The UK has become the first country to approve the Pfizer/BioNTech COVID-19 vaccine for widespread use. The vaccine will be rolled out starting next week, with priority given to healthcare workers and elderly populations.

5. The US recorded its deadliest day of the pandemic, with over 2,800 deaths reported in a single day. Hospitals across the country are reaching capacity, prompting concerns about the strain on healthcare systems during the holiday season.

Read more: Oracle stock set to notch fresh record after disclosing multiple cloud services deals