Oracle shares surged 12% after the company reported strong third-quarter earnings and confirmed it will not raise additional debt in 2026 beyond previously announced plans.

CEO Clayton Magouyrk highlighted Oracle’s AI infrastructure growth, noting $29 billion in new contracts and efficient data center delivery without negative cash flow.

The company’s cloud revenue, including infrastructure and SaaS, rose 44% year-over-year to $8.9 billion.

Despite skepticism over AI spending and concerns about a tech bubble, Wall Street responded positively to Oracle’s earnings report, CNBC. has reported.

Analysts praised the results as a sign of robust AI demand, calling it a boost for the broader software and tech sector.