Goldman Sachs’ Best Phase 2 AI Stocks: Top 24 High Conviction AI Stocks

12. Oracle Corporation (NYSE:ORCL)

Year To Date Share Price Gain: 68.91%

Number of Hedge Fund Investors in Q2 2024: 93

Oracle Corporation (NYSE:ORCL) is one of the biggest enterprise computing software providers in the world. In the AI era, the firm has also established itself as one of the dominant entities in AI capacity. In an industry that is thirsty for NVIDIA’s Blackwell GPUs, Oracle Corporation (NYSE:ORCL) opened pre orders for its Oracle Cloud Infrastructure (OCI) in September to allow customers access to as many as 131,072 Blackwell GPUs with availability estimated for 2025. Initiatives like OCI mean that Oracle Corporation (NYSE:ORCL) becomes the backbone of the AI industry as its infrastructure is indispensable for training heavy duty models and workloads. Consequently, it’s also unsurprising that the stock is up 68.91% year to date to surpass Microsoft’s 12.25% as while Microsoft’s profits from AI might be in the future, Oracle Corporation (NYSE:ORCL) stands the chance to earn immediate revenue through its AI infrastructure offerings.

Janus Henderson mentioned Oracle Corporation (NYSE:ORCL) in its Q2 2024 investor letter. Here is what the fund said:

“Enterprise software company Oracle Corporation (NYSE:ORCL) was a top contributor to relative performance. The company reported revenue and bottom line metrics that were in line to slightly below consensus; however, it also reported record bookings for new business. This accelerating revenue growth outlook is being driven by AI cloud infrastructure deals and boosted sentiment in the stock.”