10 Must-Watch AI Stocks on Wall Street

3. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 124

Oracle Corporation (NYSE:ORCL) is one of the 10 Must-Watch AI Stocks on Wall Street. On September 17, Bernstein shared positive analyst commentary regarding Oracle’s TikTok deal.

Analyst Mark Shmulik highlighted Oracle’s expanding position in cloud services, noting the company “recently announced $317B in new RPO which could make them the 3rd largest hyperscaler.”

Shmulik said that the benefits coming in from the TikTok arrangement extend “beyond the revenue and cash flow,” and allows Oracle to become “more relevant with consumer internet companies.”

He added that anonymized access to TikTok data will also help Oracle showcase its AI inferencing abilities. Even though Oracle would need to “explain how they fund this all the massive OCI build-out,” i.e the Oracle Cloud Infrastructure, they believe that the deal represents “real upside to the story.”

Oracle Corporation (NYSE:ORCL) is a database management and cloud service provider.