Oracle Shares Surge on AI Cloud Growth and Strong Q3 Results

By EC Assets · Published 11 September 2026

Oracle shares surged in premarket trading on Friday following strong quarterly results. The technology company reported robust revenue growth, largely driven by demand for its artificial intelligence cloud services. This performance also boosted its revenue backlog significantly. Oracle shares climbed 6.0% in premarket trading. The company's cloud infrastructure revenue increased 121% since last year. This growth reflects demand for its AI cloud services. Oracle's revenue growth reached 30%, fueled by AI cloud demand. The company secured over $30 billion in new AI cloud contracts. These contracts contributed to a revenue backlog of $664 billion. This backlog eased concerns about spending. Oracle's strong quarter prompted a positive reaction among some Wall Street analysts. Another premarket mover was South Bow Corp. Its shares rose 9.6% in premarket trading. This article is intended for informational purposes only. It does not constitute investment advice.