Oracle Corp. (ORCL) signs $1.65 billion supply deal with Australian modular data center manufacturer

Oracle Corp. (NYSE:ORCL) is one of the The 10 Best AI Stocks to Watch in May. Over the past year, Oracle shares have risen 14.69%, while they have fallen 17.54% year to date. According to an April 27 report in the Australian Financial Review, Oracle has signed a six-year supply agreement worth approximately $1.65 billion with Australian modular data center manufacturer Datapod to supply, deploy and maintain AI infrastructure in the US and Europe.

Based on ratings from 45 analysts compiled by CNN, 80% gave Oracle a “buy” rating, while 18% gave it a “hold” rating. The stock’s median price target is $222.50, representing a 37.86% increase from the current price of $161.39.

According to an April 28 report from TheFly, Wedbush analyst Daniel Ives said the selloff in Oracle shares was a “vastly overreaction” after the Wall Street Journal reported that OpenAI recently missed its own targets for new users…