Shares up 7.5% premarket (Il Sole 24 Ore Radiocor) - New York, 12 Jun - Shares in Oracle jumped in premarket trade after the software maker announced some major artificial intelligence contracts and AI deals with Google, Microsoft and OpenAI.

The company, which missed consensus on fiscal fourth quarter results with an adjusted EPS of 1.63 dollars on revenue of 14.28 billion, said it had signed more than 30 AI sales contracts worth more than 12.5 billion dollars.

It also said it had agreed a partnership deal with Google Cloud which will give customers the choice to combine Oracle Cloud Infrastructure and Google Cloud technologies to help accelerate their application migrations and modernization.

It will be partnering with Microsoft to deliver additional computing capacity to OpenAI, which will draw on Oracle's cloud infrastructure to train its AI models.

'Oracle and Google Cloud have many joint enterprise customers,' said Sundar Pichai, CEO of Google and Alphabet.

'This new partnership will help these customers use Oracle database and applications in concert with Google Cloud's innovative platform and AI capabilities.' At 1212 GMT, Oracle shares were up 7.5%.

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(RADIOCOR) 12-06-24 14:19:35 (0411) 5 NNNN