CNBC's Kristina Partsinevelos joins 'Squawk on the Street' to report on Oracle, as shares of the tech company soared after it reported better-than-expected earnings on Wednesday.

New York

Oracle shares soared to a record high after the company reported better-than-expected quarterly earnings. The technology firm posted notable growth in its cloud infrastructure revenue, which increased by 52%, and reported a 41% rise in remaining performance obligations (RPO), reaching $138 billion. Oracle also provided guidance for over 70% growth and expects its backlog to double in the upcoming fiscal year.

Company executives emphasized that the strong results were driven by market demand rather than contributions from large infrastructure projects like Stargate. Oracle reported no issues with GPU supply, a challenge faced by some competitors, and analysts noted that investors have been shifting from other software companies into Oracle. The company's performance has outpaced the broader software sector, and founder Larry Ellison's stake in Oracle saw a significant increase in value following the stock's rise.

Oracle shares hit record high

Keep an eye on, well, companies who obviously have a main product being software, chips, AI-related. Why Oracle? Leading the sector higher overall. That's a record level after the company reported earnings and said some very positive things about CapEx and data centers. Christina Partzanowicz joins us. She's got more on what's getting this going and going it is. They delivered for Q4 and numbers that should really just make the most skeptical investors pay attention. And while you're seeing the stock just up double digits today, I can go through the numbers. Forty one percent RPO growth, which is just pretty much backlogged to one hundred thirty eight billion. You have cloud infrastructure revenue, which is really important for them, jumping 52 percent and then guidance over 70 percent. The biggest set, though, was the 100 percent growth of backlog that they're expecting for fiscal 2026. That was a really bullish signal on the call. And interestingly enough, Stargate, the 500 billion dollar infrastructure project that's supposed to reshape American dominance, quote, contributed little to none of that massive RPO guidance, according to CEO Safra Katz. That makes Larry Ellison's description of current demand as, quote, astronomical, even more striking. Why? Because Oracle is already delivering pretty exceptional growth that we saw in Q4 on pure market demand, making any Stargate upside additional fuel for their growth trajectory. Also to note, Oracle said they had no issues getting a GPU supply. We know that Nvidia had talked about that. Oracle is just another large company saying they're able to get their hands on all of those chips. Both Mizuho and Jeffries say that investors have been moving away, though, from Adobe, Salesforce as well as Workday into Oracle, which is why you did see a little bit of a run up into the stock, into the print. And you can see also just we're going to show the IGV ETF. It's also a good barometer to compare the basket of software stocks and how they're doing compared to Oracle. And you can really see the divergence just over a year to date. Well, we'll have both up there in a second. But one year, 29 percent, Oracle doing much better. I think new all time high now. Yeah, that's recovered fully from any sort of a downdraft. Just it's always interesting. Ellison is up twenty nine billion dollars today. We forget he owns 40 plus percent of this company. One point four billion shares. It's always interesting when we can talk about how wealthy people get. Well, I mean, the numbers are just so staggering. Sometimes you can forget. Two hundred and twenty eight billion dollars is his ownership stake in in Oracle. That's what it's valued at today, given that incredible move and how bullish he was. Exactly. On the call on his comments, he said that he had never. And I'm paraphrasing right now that he had never seen such demand. And I think that those comments, along with Safra Katz's comments on the call, really spoke to what's to come in the upcoming year. Not necessarily just how they did this past quarter, which I think could have been a little better doing that. Others like what are they doing? Right. That's driving the demand more than the hyperscalers aren't seeing growth like like these kind of double digits. Great question. I think, well, one, the relationship that they maintain with NVIDIA. So they're able to move forward with that to perhaps they got like a foothold with the Stargate thing in the United States and the U.A. much faster than everyone else. And I don't know why they were picked over the other hyperscalers. So that's a great question.

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