Oracle impresses on the stock market, soaring 30% to record highs due to AI: "We're in shock."

Oracle is having a historic day on the stock market. The cloud solutions company soared 30% in pre-market trading on Wall Street after impressing investors with its growth forecasts for its cloud business in the coming years, driven primarily by Artificial Intelligence ( AI ).

The company's new growth prospects, coupled with its new contracts, have surprised Wall Street, so much so that Oracle has reached a new record high. According to Bloomberg data, the company is on track to add approximately $200 billion to its market value if the 30% gain recorded before the market opens holds through the close of trading.

And where does this optimism come from? Oracle is benefiting from major deals with AI giants like OpenAI and Nvidia to boost its cloud business. " We're all in a state of shock , but very positive," said Deutsche Bank analyst Brad Zelnick during Oracle's earnings call. According to Bloomberg, the analyst asserts that "there's no better proof that a radical shift is taking place in computing than these results they just presented."

According to the company, these agreements have resulted in a 359% increase in the company's contract portfolio, reaching $455 billion , more than four times the same period last year. The company has already accumulated several successes in cloud computing.

Demand for Oracle 's cloud infrastructure continues to grow, and "it was an amazing quarter," Catz said. According to the agency, the company signed four multi-million-dollar contracts with three different clients during the quarter and expects to add several additional clients in the coming months, bringing its contract portfolio close to $500 billion.

Among Oracle's new developments, the need for global AI developers to continue accelerating their investments stands out. With its client OpenAI alone, the company estimates that trillions of dollars will be required over time to invest in the infrastructure necessary to develop and operate its services. Thus, Oracle is consolidating its position as a key provider of computing capacity, competing with cloud leaders such as Amazon , Microsoft, and Google.

If Oracle closes the trading day with this gain, it will surpass the previous all-time high of $256.43, reached on August 6. The company's shares have soared 45% this year through last Tuesday's close, four times the gain seen in the S&P 500.

In fact, this momentum is spreading to other AI-related stocks, such as chipmaker Nvidia and its Asian suppliers, which also rose. Nvidia is up 1.5% in New York futures, while Advantest is up 3.27% and SK Hynix is ​​up 5.56% in Asian markets.

Oracle is having a historic day on the stock market. The cloud solutions company soared 30% in pre-market trading on Wall Street after impressing investors with its growth forecasts for its cloud business in the coming years, driven primarily by Artificial Intelligence ( AI ).