NEW YORK, March 12, 2026, 05:15 EDT
AI-linked names caught a lift from Oracle, which projected robust data-center growth tied to artificial intelligence through 2027, shaking up sentiment ahead of Thursday’s U.S. open—even as oil’s climb past $100 pressured stock-index futures. “A beat and a stress test result” for the AI play, said eMarketer analyst Jacob Bourne of the quarter. Reuters
Oracle reported a 325% surge in its remaining performance obligations, bringing the figure to $553 billion from a year ago. Third-quarter revenue hit $17.2 billion, up 22%. The company also upped its fiscal 2027 revenue goal, now aiming for $90 billion. Investors are watching Oracle closely as it’s become a key barometer for whether big, debt-fueled investments in AI infrastructure are translating to actual sales. Adobe is next in line, set to report after Thursday’s close, offering another snapshot of software AI demand.
The funding issue remains unresolved. “That debate is not going away anytime soon,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown. Morgan Stanley analysts echoed that, saying investors continue to look for more concrete evidence that Oracle’s AI cloud segment can actually drive earnings and free cash flow. Reuters
Yet cash keeps flowing. Amazon is eyeing roughly $37 billion through an 11-part bond offering to fuel its AI infrastructure push, Reuters reported. At the high, demand topped $126 billion—credit investors clearly aren’t shying away from backing this expansion.
Nvidia weighed in Wednesday, committing $2 billion to Nebius for an 8.3% stake. Meta, for its part, introduced four proprietary AI chips as it grows its data center footprint—however, only the first of those chips is currently deployed, limited to ranking and recommendation systems.
Keep an eye on Adobe. The software giant has its results due after Thursday’s close. Back in December, Adobe projected first-quarter revenue between $6.25 billion and $6.30 billion, and non-GAAP earnings per share of $5.85 to $5.90. CEO Shantanu Narayen called out the “growing importance” of Adobe in AI at the time. Business Wire
Around 4:57 a.m. EDT, Oracle traded at $163.12, gaining $13.70 from its last close. Nvidia added $1.21 and sat at $186.03. Adobe slipped $1.44 to $273.705, and Amazon eased down $1.69 to $212.65, according to market data.
But the spotlight on AI stocks might not last solo. Atlassian announced plans to cut around 1,600 jobs late Wednesday, shifting focus toward AI. CEO Mike Cannon-Brookes called it “disingenuous” to pretend this tech doesn’t reshape workforce demands. The move keeps alive concerns—highlighted by February’s software rout—that AI can squeeze valuations, even as it fuels demand for chips and cloud. Reuters
