Wall Street Indexes Advance to New Peaks, Oracle Jumps On Strong AI-Driven Backlog

Barry Adams
10 Sep, 2025
New York City

Benchmark indexes on Wall Street advanced after enthusiasm related to artificial intelligence stocks reached a new feverish pitch. 

The S&P 500 index increased 0.4% and the tech-heavy Nasdaq Composite advanced 0.4%. 

The latest surge in AI-related stocks was driven by a surge in revenue from its three leading customers and the company's annual outlook for its cloud infrastructure unit.

Oracle said revenue from Amazon, Google, and Microsoft soared 15-fold from a year ago and added that this growth is likely to continue as it adds 37 new data centers.

The eye-popping revenue surge caught investors by surprise, and analysts were quick to revise stock price targets.

Bank of America upgraded Oracle to "Buy" and lifted its target price to $368.

Nvidia, AMD, Broadcom, Cisco, and Arista Networks advanced on Wednesday as investors returned to increase exposure to artificial intelligence-related stocks. 

On the economic front, producer price inflation unexpectedly softened in August, according to the latest data released by the U.S. Bureau of Labor Statistics.

The producer price inflation slowed to 2.6% in August from the downwardly revised rate of 3.1% in July, and the core inflation rate eased to 2.8% from 3.4% in the previous month. 

 

U.S. Stock Movers 

Oracle Corp. jumped 28.77% to $311.01 after the database management company reported a slight increase in revenue and a marginal decline in net income in the first quarter ending on August 31.

Consolidated revenue advanced to $14.9 billion from $13.3 billion, net income inched lower to $2.927 billion from $2.929 billion, and diluted earnings per share edged down to $1.01 from $1.03 a year ago.

The company's board declared a quarterly cash dividend of $0.50 per share, payable on October 23 to shareholders on record on October 9.

"We signed four multi-billion-dollar contracts with three different customers in Q1," said Oracle CEO Safra Catz.

"This resulted in the Remaining Performance Obligation contract backlog increasing 359% to $455 billion.

It was an astonishing quarter—and demand for Oracle Cloud Infrastructure continues to build.

Over the next few months, we expect to sign up several additional multi-billion-dollar customers, and RPO is likely to exceed half a trillion dollars.

The scale of our recent RPO growth enables us to make a large upward revision to the cloud infrastructure portion of Oracle's overall financial plan, which we will be presenting in detail next month at the Financial Analyst Meeting.

As a bit of a preview, we expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year—and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years."

Oracle Chairman and CTO Larry Ellison announced that MultiCloud database revenue from Amazon, Google, and Microsoft grew by an impressive 1,529% from a year ago in the fiscal first quarter.

Synopsys Inc. declined 19.59% to $485.97 after the electronic design automation software developer reported a slight increase in revenue and a 41% decrease in profit in the latest quarter ending on July 31.

Consolidated revenue increased to $1.7 billion from $1.5 billion, net income plunged to $242 million from $408 million, and diluted earnings per share fell to $1.50 from $2.61 a year ago.

GameStop Corporation soared 9.2% to $25.76 after the specialty retailer reported adjusted earnings per share rose to 25 cents on revenue of $972.2 million.