On Wednesday, cloud infrastructure company CoreWeave, Inc. (CRWV.US) saw its stock price surge. As of press time, the stock was up over 20%, trading at $120.19. The stock's rally was driven by Oracle (ORCL.US) earnings results, with Oracle projecting that cloud infrastructure revenue will reach $18 billion in fiscal year 2026, representing a nearly 77% increase from fiscal 2025's $10.3 billion. For the subsequent four fiscal years, the company expects this revenue to reach $32 billion, $73 billion, $114 billion, and $144 billion respectively.
In addition to CoreWeave, fellow AI cloud infrastructure concept stock Nebius (NBIS.US) continued its previous upward momentum despite announcing a stock offering. The stock initially fell over 5% in pre-market trading, but as of press time, it was up over 2%, trading at $97.47. Previously, Microsoft (MSFT.US) signed a $17.4 billion cloud services agreement with the company.