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February 10th - Shares of memory chip manufacturers have surged to unprecedented heights in recent months. Fund managers and analysts are currently assessing which companies can best weather this supply squeeze by locking in supply, raising product prices, or redesigning products to reduce memory usage. Vivian Pai, a fund manager at Fidelity International, stated, "We believe the industry supply tightness is likely to persist, potentially for the remainder of the year." Jian Shi Cortesi, a fund manager at Zurich-based GAM Investment Management, said, "Historically, memory cycles typically last three to four years. The current cycle is longer and larger than previous cycles, and we havent seen any signs of weakening demand momentum."February 10th - According to the Financial Times, President Trump intends to exempt companies like Amazon, Google, and Microsoft from impending tariffs on chips as they race to build data centers that power the artificial intelligence boom. Sources familiar with the matter revealed that the U.S. Commerce Department plans to grant tariff exemptions to U.S. hyperscale data center operators, linked to investment commitments from TSMC. This exemption plan underscores President Trumps determination to impose tariffs on chips and incentivize domestic chip manufacturing, while also providing some assistance to companies heavily reliant on imported semiconductors and driving the rapid development of U.S. artificial intelligence. A government official familiar with the plans cautiously stated that these plans are still under review and have not yet been signed by the president.According to The Information: Amazon (AMZN.O) is discussing the artificial intelligence content market with publishers.White House officials: US President Trump has made it clear that he does not support Israels annexation of the West Bank.New Energy Vehicles: 1. Teslas North American sales head resigns amid global demand slump. 2. Shanghai NIO recalls some ES8, ES6, and EC6 pure electric vehicles. 3. Jike responds to recall of nearly 40,000 001 cars: will replace the power batteries of the affected vehicles free of charge, no cash payment involved. 4. Tesla: Cybercab self-driving electric car will be mass-produced and put into operation at the Texas Gigafactory. Artificial Intelligence: 1. EU warns Meta to open WhatsApp to competitor AI chatbots. 2. Anthropic has discussed securing at least 10 gigawatts of power generation capacity over the next few years. 3. Anthropic CEO will meet with Republican senators on the Senate Banking Committee on Tuesday. 4. OpenAI: Launches ChatGPT ad testing in the US for some free and Go plan subscribers. 5. OpenAI founder Altman: ChatGPT monthly growth exceeds 10%, new chat model to be launched this week. 6. US sources say Total Energy will provide 1 gigawatt of solar power capacity for Googles Texas data center for 15 years. Other news: 1. Horizon Robotics and CATL subsidiary TIME Intelligent have reached a strategic cooperation agreement. 2. STMicroelectronics and Amazon AWS announced an expanded strategic cooperation. 3. Elon Musk: SpaceX will build a system that allows anyone to go to the Moon and Mars. 4. Alphabets dollar bond issuance is reportedly expected to reach $20 billion, with subscriptions exceeding $100 billion. 5. The Inter-Ministerial Joint Conference Office for Collaborative Supervision of New Transportation Business Models held talks with Gaode Taxi. 6. Reports indicate that Nvidia will launch a new graphics card this year positioned above the GeForce RTX 5090.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


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