We're buying 75 shares of Oracle at roughly $103 each. Following Monday's trade, we will own 725 shares of ORCL, increasing its weighting in the portfolio to 2.72% from 2.45%. Oracle shares were up about 1% on Monday after falling 6% on Friday in reaction to the company's AI Executive Forum event. Many analysts were upbeat about Oracle's broader artificial intelligence opportunity.
mountain Oracle YTD Still, the company noted strong demand for its AI services. On the company's Sept. 11 earnings call, Chairman and CTO Larry Ellison pointed out that AI development companies had signed contracts to purchase more than $4 billion of capacity in Oracle's Gen 2 cloud. When CEO Safra Catz appeared on "Mad Money" a week later, she pointed out that in the first week of the new quarter, the company booked another $1.5 billion just in AI workloads.
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