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.
Oracle's cloud demand boom signals huge increases in AI data center workloads, requiring advanced semiconductors and hardware from chipmakers like Nvidia Corp (NASDAQ:NVDA, ETR:NVD), Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD), Broadcom Inc (NASDAQ:AVGO, ETR:1YD), Micron Technology Inc (NASDAQ:MU), and Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM).
Oracle has landed a $30 billion annual cloud contract starting in fiscal 2028 and a backlog that soared 359% year-over-year to $455 billion, reflecting unprecedented demand for AI-driven cloud infrastructure.
Shares of Nvidia added 4%, AMD was up 3%, Broadcom jumped 9.4%, Micron was up 3.9% and TSMC added 4.5%.
Oracle’s aggressive data center expansion and new AI GPU contracts worth billions also feed growth across the hardware supply chain and AI software ecosystem, benefiting Palantir Technologies Inc (NYSE:PLTR) and Arm Holdings PLC (NASDAQ:ARM) as well, which added 2.7% and 8%, respectively.
Oracle shares, meanwhile, added almost 40% at $338. The company has surged more than 102% in the year to date.