Oracle shares rise about 5% as investors reassess OpenAI revenue outlook and cloud deal exposure
Oracle shares rose about 5% on Friday, recouping losses from the prior session as investors revisited concerns tied to OpenAI. The selloff followed a report that put OpenAI’s annualized revenue at roughly $50 billion, below earlier estimates of nearly $70 billion, raising questions about its ability to support a $300 billion cloud agreement with Oracle. Oracle’s latest quarterly results also helped sentiment, with revenue up 30% year over year to $19.3 billion.