The forecast from Oracle surprised many analysts and is interpreted as a signal that the global boom in terms of investments in infrastructure for artificial intelligence (AI) continues to increase.
Other AI-related stocks such as chip manufacturer Nvidia and Asian technology companies are following upwards.
According to Oracle's forecast, investments in cloud service infrastructure will increase to 18 billion dollars during the company's current fiscal year, which ends in the spring of 2026, and then continue to increase at a rapid pace up to 144 billion dollars by 2030.
The price surge comes after Oracle's stock had risen 45 percent since the turn of the year until the close of trading on Tuesday.
