Oracle Corp (NYSE:ORCL, XETRA:ORC) shares jumped nearly 10% in Wednesday trading following a fiscal third-quarter report that highlighted accelerating cloud growth and expanding AI infrastructure adoption.
The company reported total revenue of $17.2 billion, up 22% year-over-year, exceeding analysts’ expectations of $16.96 billion. Cloud infrastructure revenue surged 81% in constant currency terms, driven by a record sequential addition of roughly $810 million, while SaaS revenue grew 11%, above Street estimates of 9%.
Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) announced that it has agreed to invest $2 billion in Nebius Group (NASDAQ:NBIS) as part of a strategic partnership aimed at developing hyperscale cloud infrastructure tailored for the artificial intelligence market.
The companies said the partnership will focus on building next-generation cloud platforms designed to support a broad range of AI users, from startups and AI-focused companies to large enterprises. NVIDIA’s investment reflects its confidence in Nebius’s engineering capabilities across the AI technology stack.
Campbell Soup Company (NYSE:CPB) shares fell sharply on Wednesday after the packaged food company reported fiscal second quarter results that came in below Wall Street expectations and lowered its full-year outlook.
The Camden, New Jersey-based company posted revenue of $2.56 billion for the quarter ended February 1, down about 4.5% from a year earlier and below analyst estimates of $2.61 billion. Campbell’s reported net sales of roughly $2.6 billion, representing a 5% decline year-over-year, or a 3% decrease on an organic basis.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF, FRA:RR1), the LSE-listed critical minerals company, rose 8% to 28p after unveiling a $916 million net present value economic assessment for its Uberaba rare earths project in Brazil and signing a joint development agreement with Mosaic, the New York-listed fertiliser giant.
The Uberaba project, located in the Minas Gerais state of Brazil, would extract rare earth elements from phosphogypsum, a waste product generated during phosphoric acid production at Mosaic's existing operations on site, using proprietary processing technology developed by Rainbow.
Shares in Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF), the AIM-listed mining company whose stock has lost more than 80% of its value over the past year, fell a further 8% to 0.022p after the company raised £500,000 through a discounted share issue to keep its Zimbabwean lithium project afloat.
The fundraise, completed at an issue price of 0.0185 pence per share, a steep discount to the already depressed market price, will provide working capital to support ongoing operations at the Zulu Lithium and Tantalum Project in Zimbabwe.
Shares in Zenith Energy Ltd (LSE:ZEN, TSX-V:ZEE), the international oil and gas producer listed in London, Oslo and Stockholm, surged 25% to 5.63p after the company disclosed that Tunisia had failed to meet a court deadline in a high-stakes arbitration dispute worth approximately $130 million.
The Republic of Tunisia missed the procedural deadline to respond to an annulment application lodged by Zenith's subsidiary, Canadian North Africa Oil and Gas (CNAOG), before the Swiss Federal Supreme Court in Lausanne, instead submitting a jurisdictional challenge arguing the case should be heard in Tunisia.