Oracle shares rose about 40% on Wednesday after the company pointed to a demand surge for its cloud services from AI firms, underscoring its deeper push into the backbone of artificial intelligence systems.

When approaching a multi-cloud adoption strategy, it is imperative to carefully think through several key factors.

Artificial intelligence chipmakers saw strong momentum this week as corporate earnings, cloud computing contracts, and surging demand for AI infrastructure fueled gains across the sector. Nvidia (NASDAQ:NVDA),

Ellison, 81, whose net worth is largely derived from his 41% stake in Oracle, saw his fortune rise by about $100 billion to around $392.6 billion, according to Forbes. He is rapidly closing in on Tesla chief Elon Musk in the race for the title of the world's richest person. Musk's net worth last stood at $439.9 billion.

Cloud computing helps enterprises lower TCO, boost ROI, improve efficiency, enable dynamic provisioning, and offer utility-style pay-as-you-go services.

Alphabet Inc. (NASDAQ:GOOGL) is one of the Best Stocks to Invest in for the Next 5 Years. On September 9, Bloomberg reported that Alphabet Inc. (NASDAQ:GOOGL)’s Google cloud computing division has up to $106 billion in commitments.

Chinese e-commerce leader Alibaba said on Thursday it plans to raise $3.2 billion through the sale of a zero-coupon convertible bond to fund international expansion and strengthen cloud computing.

Alphabet Inc.’s Google cloud computing division has up to $106 billion in commitments from existing customer contracts that it has yet to fulfill, according to the division’s Chief Executive Officer,