Jefferies’ Top Crowded Software Long Positions: Top 10 Stocks

2. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders In Q2 2024: 93

Shares Short % Of Outstanding: 0.61%

Oracle Corporation (NYSE:ORCL) is one of the largest enterprise resource management software products providers in the world. The firm enables businesses to manage their manufacturing, supply chains, and other operations. Oracle Corporation (NYSE:ORCL) has also used its expertise in providing computing products to businesses to create a key role for itself in the artificial intelligence infrastructure industry. It is one of the largest operators of AI GPU clusters in the world, which enables Oracle Corporation (NYSE:ORCL) to position itself to serve the hardware needs of firms needing GPUs to train their AI models. Its Opera Cloud Infrastructure (OCI) business aims to allow AI users to access as many as 131,072 NVIDIA Blackwell GPUs – creating a sizeable chance that Oracle Corporation (NYSE:ORCL) ends up becoming the backbone of the global AI industry since Blackwells are among the most hotly demanded products in the world right now.

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.”