What's Going On With Oracle Stock Thursday?

Author: Lekha Gupta | July 25, 2024 02:34pm

Oracle Corporation (NYSE:ORCL) shares are trading higher today. The company reportedly inked a deal with Rai Way to implement its AI systems at the Italian firm’s data centers.

Oracle’s corporate clients will access its database, cloud, and disaster recovery solutions through Rai Way’s remote data centers, reported Reuters.

The companies noted that Rai Way’s remote data centers enhance cybersecurity by adding “a further layer of protection against any attempts by cyber-criminals to locate data geographically.”

Apart from this, Oracle inked a managed services agreement with a Saudi telecom operator Salam to support ongoing digital transformation.

Using an Information and Communication Technology-focused approach, Oracle will help Salam boost operational efficiency, proactively address potential issues, and ensure seamless service delivery to customers.

Ahmed Al-Anqari, CEO of Salam, said, “As a Saudi-born company, Salam is at a digital transformation milestone in its journey. Our focus is on contributing to the advancement of KSA’s ICT sector by enhancing our managed services among many other strategic initiatives.”

This month, Oracle unveiled Exadata Exascale, a cloud-based data architecture enhancing performance for Oracle Database workloads.

ORCL stock has gained around 19% in the last 12 months. Investors can gain exposure to the stock via Pacer Funds Pacer Data And Digital Revolution ETF (NYSE:TRFK) and IShares Expanded Tech-Software Sector ETF (BATS:IGV).

Also Read: Oracle’s Strategic Pivot To AI And Cloud Computing Yields Market Cap Surge: Report

Price Action: ORCL shares are up 0.73% at $139.78 at the last check on Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Posted In: IGV ORCL TRFK