Thursday delivered a spectacular display of tech stock momentum as markets surged across the board, showcasing the explosive power of technology investments.
On September 11th, A-shares opened lower but closed significantly higher, with the ChiNext Composite Index and STAR 50 Index both climbing over 5%. At market close, the Shanghai Composite gained 1.65%, the Shenzhen Component Index rose 3.36%, and the ChiNext Composite Index surged 5.15%.
Market breadth was overwhelmingly positive with 4,221 stocks advancing, 94 stocks hitting their daily limit up, while only 1,047 stocks declined.
The computing hardware sector demonstrated exceptional strength throughout the trading session. Foxconn Industrial Internet hit its second consecutive daily limit and reached a new all-time high.
Optical module and PCB hardware stocks experienced explosive growth, with companies including Shengyi Technology, Innolight Technology, NeoPhotonics, and O-Net Communications all gaining over 10%.
Semiconductor chip stocks rallied broadly, with multiple companies including Hygon Information Technology, Advanced Micro-Fabrication Equipment, Focuslight Technologies, and SILEX Microsystems hitting their daily trading limits.
The primary catalyst behind today's technology sector rally can be traced to a single source: Oracle Corporation.
During overnight U.S. trading, Oracle's stock price soared as much as 43%. The database software company projected $455 billion in unrecognized contract revenue for its most recent quarter ending August 31st, representing more than four times the amount from the same period last year.
Oracle's Chief Executive Officer informed analysts and investors that the company secured four major contracts with three clients during the quarter. The CEO indicated that several additional large clients are expected to sign substantial contracts with Oracle in the coming months, potentially pushing the company's contract revenue beyond $500 billion.
Furthermore, according to informed sources, OpenAI has entered into an agreement with Oracle to purchase approximately $300 billion worth of computing power over roughly five years. The scale of this massive commitment far exceeds the company's current revenue levels.
This transaction represents one of the largest cloud contracts in history, reflecting continued record-high spending on AI data centers despite growing concerns about potential market bubbles.
The deal will require 4.5 gigawatts of power capacity, roughly equivalent to the output of more than two Hoover Dams or the electricity consumption of approximately 4 million households.
Analysts note that Oracle's announcement has sustained market optimism around artificial intelligence. Oracle's developments have reinforced AI narrative logic, expanded market expectations, and validated the high demand for global AI computing power, redirecting market attention back to AI and related themes.