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Oracle shares jump on Google and OpenAI deals despite earnings miss

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Oracle has been investing in generative artificial intelligence software enhancements and bringing its database to more Microsoft data centers.

shares moved 9% higher in extended trading on Tuesday after the company announced cloud deals with Google and OpenAI, despite fourth-quarter results that fell short of Wall Street expectations.statement

The cloud services and license support segment generated $10.23 billion in revenue, up 9% and slightly below the StreetAccount consensus of $10.29 billion.

 

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