ORCL Stock Has Grown 80% Since Partnership Expansion With Nvidia

Cloud services are looming large among technology companies across the globe. Oracle Corporation (NYSE: ORCL), a Texas-based multinational computer technology company, is emerging as a crucial player in the industry. However, the company shares fell by over 1% in yesterday’s market. As of now, ORCL stock was trading at a market value of $120.58.

Oracle Corporation Has Grown 40% in a Year

Oracle recently deployed the latest update on Oracle Exadata, a database platform, dubbed X10M, market insights provider Zacks Equity Research reported. The release led to a significant increase in the company’s database consolidation capacity of the servers. Storage servers are now running with 22% more capacity. All-flash servers have gained 2.4 times capacity. Moreover, database servers are operating with 50% increased memory.

Technology-focused online news provider TechCrunch reported the company is formally launching EU Sovereign Cloud. Digital sovereignty has become a global issue, especially since the social media giant, Meta Platforms (formerly Facebook) was found responsible for providing data to a political consulting firm, Cambridge Analytica, without users’ consent.

Microsoft (NASDAQ: MSFT) announced Cloud for Sovereignty in 2022. Oracle Corporation is already serving its Europe customers with its localized servers. The initiative extends the company’s promise to process data locally and with increased transparency.

According to Bloomberg, a New York-based news international news agency, Oracle has grown over 40% in a year. Q4 2022 sales were up by more than 50%. Moreover, Oracle Gen2 Cloud, a cloud infrastructure service, is becoming the preferred choice for a variety of organizations regarding their artificial intelligence (AI) workloads. Oracle’s acquisition of health information company, Cerner Corporation (now Oracle Health), last year, generated $1.5 Billion during the fourth quarter.

Moreover, the company is currently working alongside the graphic processing unit (GPU) king, Nvidia (NASDAQ: NVDA). In October, 2022 Oracle expanded a multi-year partnership with the GPU maker. The announcement revealed that Oracle Cloud Infrastructure (OCI) is going to use a myriad of Nvidia GPUs including A100 and H100.

ORCL Stock Price Performance

ORCL stock has grown over almost 80% since it announced their expansion with Nvidia. Supertrend shows a couple of bull runs during the timeframe with the initial trend ending in March 2023, while another is still active. However, the shares witnessed a slight downfall recently, declining by almost 6% in a week.

Woodies CCI declined, currently entering the oversold zone, a potential indication of reversal in ORCL stock price. Moreover, vortex indicator + (VI+) has remained above the vortex indicator – (VI-), supporting the active price rally. True strength indicator (TSI) plummeted over the past few days but has managed to stay above the signal.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.