Oracle stock rose 5.0% in morning trading to $141.95 after a sharp decline in the prior session. The company launched new AI products and said its Project Jupiter data center campus in New Mexico remains on schedule, while Mizuho named it a top pick.
Oracle shares surged 5.0% in morning trading to $141.95, snapping back from the prior session's sharp decline. The rebound followed new AI product announcements and a company statement meant to calm investor nerves over its most critical infrastructure project.
Oracle answers data center delay reports
Oracle issued a public statement affirming that its Project Jupiter AI data center campus in New Mexico remains fully on schedule. According to Oracle: "fully committed to New Mexico". The statement countered the prior day's headlines about pipeline delays and construction setbacks.
The company also announced Oracle Fusion Claw, a governed AI execution runtime that integrates AI reasoning with deterministic enterprise computation across 25 specialist-grade applications. Its financial services division launched Oracle Nexus Case Flow and Oracle Nexus Reach, agentic AI tools built to assist banks and institutions with anti-crime investigations and compliance workflows.
Mizuho and an insider purchase add support
Mizuho put Oracle at the top of its October Top Picks list with a $320 price target, roughly 25% above the Bloomberg consensus. The bank projects 35% annual revenue growth from fiscal 2026 through 2030, underpinned by an estimated $638 billion AI cloud order backlog.
A Form 4 filing disclosed today showed that board director Stephen Rusckowski bought 25,000 Oracle shares in an open-market transaction at approximately $139.35 per share, roughly $3.48 million. Cerity Partners' Jim Lebenthal also characterized the recent pullback as a buying opportunity for what he described as a high-beta AI play.
Broader market edges higher
Today also marked Oracle's ex-dividend date for its $0.50 quarterly common stock dividend. The broader market saw the S&P 500 gaining 0.3%, the Nasdaq adding 0.4% and the Dow Jones up 0.3%.
Source: Investing.com
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