Why Investors Were Hot on Oracle Stock Today

On Tuesday, database king Oracle (NYSE: ORCL), hardly for the first time, was an outperformer on the stock market. The company's shares ticked nearly 3% higher on the day, thanks to a report of a potentially major tie-up in the artificial intelligence (AI) field with a top tech sector peer. That rise topped the nearly 1% gain of the S&P 500 index on the day. According to a report from tech industry news site The Information, leading AI solutions developer OpenAI is discussing a deal with Oracle. Citing an unnamed "person who heard the remarks," the former company's management told certain employees that OpenAI "would play a greater role in lining up data centers and AI chips" to advance the technology, rather than depending entirely on its partner Microsoft to do so. The article stated that OpenAI is dissatisfied with the speed at which Microsoft is supplying it with servers. AI is resource-intensive, and requires significant amounts of processing power and storage. Microsoft is a major investor in OpenAI, having poured billions of dollars into the company.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool