A surge in Oracle Corp (NYSE:ORCL, ETR:ORC)’s AI cloud contracts lifted a broad set of AI-related stocks on Wednesday.
This sector-wide uplift was driven by Oracle securing massive multi-billion-dollar cloud deals that position it as a key AI infrastructure provider supporting frontier AI models.
Larry Ellison, co-founder of Oracle, has overtaken Elon Musk as the world’s richest person after Oracle Corp (NYSE:ORCL, ETR:ORC)’s stock price soared more than 40% on Wednesday as surging cloud demand boosted the software giant’s latest financial results.
Ellison’s wealth increased by $101 billion to $393 billion on Wednesday, and now exceeds Musk’s net worth of $385 billion, Bloomberg reported.
Synopsys Inc (NASDAQ:SNPS, ETR:SYP) shares plummeted after the electronic design automation software and semiconductor silicon intellectual property (IP) firm posted a revenue and profit miss for the fiscal third quarter, as well as issuing cautious guidance.
Revenue was up 14% year-over-year at $1.74 billion for Q3, below Wall Street estimates of $1.77 billion.
Chewy (NYSE: CHWY) shares fell 13% to about $36 in early Wednesday trading after the provider of pet supplies reported second quarter 2025 earnings per share (EPS) that declined to $0.15 from $0.70 during the same period last year.
The company said its profit was impacted by a $79.1 million expense for share-based compensation and related taxes.
Joby Aviation Inc (NYSE:JOBY) and Uber Technologies Inc (NYSE:UBER, ETR:UT8) announced plans to integrate Blade’s air mobility services into the Uber app starting as soon as 2026, marking the next phase of their collaboration to expand access to urban air travel.
The move follows Joby’s August 2025 acquisition of Blade’s passenger business, which flew more than 50,000 passengers in 2024 across routes in the New York metropolitan area and Southern Europe.
Central Asia Metals PLC (AIM:CAML, OTC:CAMLF) shares slid 12% yesterday after the miner reported weaker profits, a halved dividend and trimmed guidance from its flagship zinc and lead mine.
First-half earnings before interest, tax, depreciation and amortisation fell to $39.9 million, down from $51.6 million a year ago, as lower sales volumes and higher costs bit into margins.
Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) (TSMC) saw its total sales in August climb 24% year over year to NT$335.77 billion, which places the world’s biggest contract chipmaker solidly ahead of plan with about 70% of expected Q3 sales booked, according to analysts at Wedbush.
They noted that a weaker Taiwan dollar (NT$) is benefiting TSMC sales in local currency, while also pointing out that the company in recent quarters has outperformed expectations in the first two months of the quarter before then reporting results closer to the initial guide.
GameStop Corp (NYSE:GME) shares climbed 6% in after-hours trading on Tuesday after the company reported second-quarter results that comfortably beat Wall Street forecasts.
Revenue rose nearly 22% year-on-year to $972.2 million, well ahead of analysts’ expectations of $823.2 million.
Klarna Group PLC shares will begin trading on the New York Stock Exchange on Wednesday with an initial market valuation of $15.2 billion.
The initial public offer for the buy-now-pay-later firm was finally priced at $40 a share, above the $35-37 initial range, with the offer was around 26 oversubscribed for the amount of shares that were on offer.
Shares in Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) rose 10% after the group was appointed as the exclusive UK distributor for ELF Nicotine Pouches, marking a significant step into one of the fastest-growing segments of the tobacco alternatives market.
The London-listed company will handle the nationwide rollout through its Chill Connect division, with the partnership expected to add to revenues in the 2026 financial year.
Oracle Corp (NYSE:ORCL, ETR:ORC) shares rocketed 31% in after-hours trading after the company unveiled a blockbuster cloud growth forecast, brushing aside a slight earnings miss to ignite investor excitement.
The software giant now expects its cloud infrastructure revenue to reach $144 billion in fiscal 2030, up from $10.3 billion in 2025 — a projection that helped send its stock soaring to levels not seen since the dot-com boom.