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Here's Why Oracle Stock Popped Higher Today

TheMotleyFool

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Here's Why Oracle Stock Popped Higher Today: https://g.foolcdn.com/editorial/images/868401/gettyimages-1208892517-1201x752-c89aa87.jpg

(NYSE: ORCL) stock tumbled a few days ago after a Wall Street Journal report claimed that its key partner, OpenAI, was missing internal targets, and that some of its management, including CFO Sarah Friar, had raised concerns about its spending. Fast forward to today, and Friar spoke to Bloomberg, claiming the company was actually outperforming expectations. That was enough to send Oracle shares up more than 7% by 12:30 p.m. today.

What happens at OpenAI reads across to Oracle due to the two companies $300 billion deal, in which Oracle will build out AI infrastructure to service demand from OpenAI.

Image source: Getty Images.

Source Fool.com