10 Hidden AI Stocks to Buy Now

2. Oracle Corp. (NYSE:ORCL)

Number of Hedge Fund Holders: 93

Oracle Corp. (NYSE:ORCL) is a technology company, that uses AI to enhance its products and services, improve database performance, automate IT operations, and provide intelligent insights to its customers.

The company’s FQ4 2024 result was influenced by multiple AI deals with leading companies in the industry. Management said it reached a deal with OpenAI and Microsoft to extend the Azure Al platform to Oracle Cloud Infrastructure (OCI) to provide additional capacity for OpenAl. It partnered with Google after which Google Cloud is to offer Oracle Cloud Infrastructure database services and high-speed network interconnect.

There was only a 3.25% revenue improvement from 2023, and the revenue generated ($14.29 billion) was also less than analyst estimates, but despite these results, the company’s Cloud infrastructure (IaaS) revenue jumped 42% year-over-year. FQ1 2025 is expected to register a 6% to 8% revenue increase. The Remaining Performance Obligations (RPOs) surged 44% in FQ4.

The top 3 shareholders own 52% of the company. Currently, it is held by 93 hedge funds, of which the largest amounts to $2,483,329,721 by Fisher Asset Management. Oracle Corp. (NYSE:ORCL) said the company is building data centers and analysts believe the company’s automated OCI services will grow amid rising demand.

Carillon Eagle Growth & Income Fund stated the following regarding Oracle Corporation (NYSE:ORCL) in its Q2 2024 investor letter:

“Oracle Corporation (NYSE:ORCL) stock rose to all-time highs after the company announced better than expected cloud infrastructure revenue. Oracle signed dozens of new customers, including two leaders in generative artificial intelligence. The backlog remains, and strong growth appears poised to accelerate.”