Oracle Shares Jump 26% to Record on Bullish Cloud Outlook

Oracle Corporation, a leading technology company, has experienced a significant surge in its stock price, jumping 26% to a new record high in extended trading. This jump was prompted by the company's impressive performance in its cloud infrastructure business, which saw a major increase in bookings. Oracle's bullish outlook for its cloud infrastructure segment was a key driver behind the stock's strong performance. The company's cloud services and license support revenue, a crucial metric for the industry, grew by 8% in the latest quarter, indicating a robust demand for its cloud offerings. The strong financial results and optimistic outlook for the cloud business have instilled confidence in investors, leading to the substantial increase in Oracle's share price. This development underscores the growing importance of cloud computing in the tech industry and Oracle's ability to capitalize on this trend.