Oracle stock soars after CEO says AI-fueled cloud revenue set to jump to $144 billion

Oracle (ORCL) stock jumped over 36% Wednesday to a new record close after the software giant said its AI-fueled cloud revenue is set to jump to $144 billion by its 2030 fiscal year.That marks a massive leap from the company's projection of less than $20 billion for the business in its current fiscal year."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," CEO Safra Catz said in a statement on Tuesday.Oracle stock's rise Wednesday was...