Oracle (ORCL) Jumps 12.7% on Cloud Expansion

Oracle Corp. (NYSE:ORCL) is one of the 10 Stocks With Eye-Popping Gains.

Oracle rallied for a second day on Monday, soaring 12.69 percent to finish at $155.62 apiece, as investor sentiment was bolstered by the progress of its ongoing cloud computing expansion.

This followed news during the day that it expanded its partnership with Bloom Energy Corp. for the procurement of up to 2.8 gigawatts of fuel cell systems to support its AI cloud computing infrastructure in the US.

Photo from Oracle website

Under the agreement, some 1.2 GW of capacity has already been contracted, with deployment underway and will continue until next year.

“By rapidly deploying Bloom’s reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States,” said Mahesh Thiagarajan, executive vice president for Oracle Corp.’s (NYSE:ORCL) Cloud Infrastructure unit.

“Together, Bloom and Oracle Cloud Infrastructure are building the power foundation and AI infrastructure to accelerate American AI leadership,” he added.

The expanded partnership followed the first deal inked in July last year, under which Bloom Energy delivered a 90-day onsite power for a data center owned by Oracle Corp. (NYSE:ORCL).

In related developments, Bloom Energy said that it officially issued warrants to Oracle Corp. (NYSE:ORCL) in relation to its $2.2 billion convertible senior notes offering announced in October last year. Under the terms of the agreement, each $1,000 note is convertible to 5.1290 Class A common shares.

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