New York, Feb 10, 2026, 10:39 (ET) — Regular session
- Oracle shares extend a sharp rebound after a bullish analyst call tied to OpenAI-linked cloud demand
- New AI “agents” inside Oracle Fusion apps add to the drumbeat of product releases
- Traders stay split on funding, cash-flow strain and the pace of payback from AI infrastructure
Oracle shares rose 3.4% to $161.92 in morning trading on Tuesday, pushing the software maker’s two-day rebound deeper into the green after fresh Wall Street calls revived interest in its OpenAI-linked cloud buildout. The stock traded as high as $162.07 after opening at $159.98.
The move matters now because Oracle has become a proxy for a messy question hitting big tech: who pays, and when, for the power-hungry data centers behind the AI boom. Investors have punished companies that talk up AI demand while asking shareholders and bond buyers to fund the hardware.
D.A. Davidson analyst Gil Luria upgraded Oracle to “buy” with a $180 price target, arguing Oracle Cloud Infrastructure — Oracle’s cloud-computing unit — offers “pure upside” from here. In a note summarized by MarketWatch, Luria pointed to what he described as a more focused OpenAI and potential new funding of up to $100 billion, saying OpenAI already has $40 billion in capital; he also flagged Oracle’s 15% stake in a U.S. TikTok joint venture as another lever that could be worth $5 billion to $9 billion and add about $1 billion a year to OCI revenue. Luria acknowledged Oracle’s roughly $130 billion debt load and its plan to raise up to $50 billion in 2026. 1
Luria’s shift in tone followed a steep selloff that he said had “overshot,” Investors.com reported. Oracle jumped 9.6% on Monday to $156.59, its best day since a 35% surge in September 2025, when the company disclosed a massive cloud contract backlog with OpenAI; even after this week’s pop, the stock remains well below its prior high of $345.72, the report noted. 2
Oracle, for its part, is still shipping product. The company said on Tuesday it rolled out new role-based AI agents inside Oracle Fusion Cloud Applications aimed at marketing, sales and service work — “agents” here meaning software that can take on tasks, trigger workflows and suggest next actions using company data. “Organizations are transforming slow, reactive sales, marketing, and service processes into proactive and intelligent workflows,” Chris Leone, Oracle’s executive vice president of Applications Development, said in a statement. 3
The funding angle keeps intruding. Alphabet’s $20 billion bond sale on Monday followed a $25 billion Oracle note sale disclosed on Feb. 2, Reuters reported, a reminder that the largest cloud operators are leaning harder on debt markets as they expand data-center capacity. “Much of the pricing … needs to be redone and reanalyzed,” said Karthik Nandyal, co-founder of credit-investor platform CredCore, pointing to how AI is reshaping software economics. 4
Not everyone is buying the bounce. Melius Research downgraded Oracle to “hold” from “buy” on Monday and kept a $160 price target, saying Oracle “doesn’t generate cash” and warning that “value may be absorbed by debt and new stock issuances for a while,” according to an Investing.com report. The note also flagged uncertainty around whether OpenAI can outpace rivals such as Anthropic and Google. 5
That is the snag for bulls: the stock can rerate fast on headlines, but the math still runs through capex and cash flow. Any stumble — slower customer ramp, a tighter funding market, or a bigger-than-expected equity raise — would land quickly in the share price.
Next up, traders will be watching U.S. macro prints that can swing rate-cut bets and, by extension, the valuation of high-multiple tech names: January’s nonfarm payrolls report is due Wednesday, Feb. 11, and the January CPI report is due Friday, Feb. 13, Reuters reported. 6
