Oracle Leads Four-Stock Rebound as Tech Shares Recover
Oracle rose 4.9%, while C3.ai, Dynatrace and Amplitude also advanced as technology stocks recovered from the previous session's sell-off.
Key takeaways
- Oracle gained 4.9% on Friday, the largest move among the four stocks listed.
- OpenAI's annualized revenue was reported at roughly $50 billion at September's end.
Oracle rose 4.9% Friday as C3.ai and Dynatrace each gained 2.6%, while Amplitude added 1.5%. The gains came as technology shares rebounded after a sharp sell-off tied to concerns about AI revenue growth.
The S&P 500 and Nasdaq moved higher at Friday's open. A day earlier, OpenAI's annualized revenue at September's end was reported at roughly $50 billion, below the $68 billion run rate widely circulated late last month.
CNBC reported the $50 billion figure, which the Financial Times had first reported was shared in an investor presentation. A person familiar with the matter told CNBC that the earlier figure included gross revenue from OpenAI's partners.
This article was produced with the help of AI technology. Source: Yahoo Finance
