10 AI News Taking Wall Street by Storm

2. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 91

Oracle Corporation (NYSE:ORCL) is a database management and cloud service provider. It hosts immense data that AI applications need to process. On December 6, Analyst Derrick Wood from TD Cowen reiterated a “Buy” rating on Oracle and raised the price target to $210.00 from $190.00. Wood has rated the company as a buy due to its strong performance and consistent growth in key areas. Oracle’s cloud services have demonstrated healthy growth levels, with cloud revenue expected to increase by 24% in constant currency, and SaaS growth projected at 12%.

The cloud revenue growth is further supported by Oracle’s strategic moves, such as the release of new AI features and ambitious revenue targets. Additionally, the successful expansion of its data center capabilities and rising interest in its Fusion Data Intelligence platform also support the buy rating. Increased hiring in sales further echoes rising demand and market confidence. All in all, Oracle is an attractive investment owing to its strong fundamentals and strategic focus on cloud and AI.