Oracle Corp. surpassed analysts' expectations with a Q3 revenue of $13.3 billion and a net income of $2.4 billion.

Post-earnings report, Oracle's stock surged by over 13% in after-hours trading, hitting $129.

CEO Safra Catz credited the surge to robust demand for Oracle's Gen2 AI infrastructure, with cloud services comprising 75% of total revenue.

The company's cloud infrastructure segment experienced a 53% growth.

Plans are underway for Oracle to construct the world's largest AI data center in the United States.

Oracle's stock has seen a 34% increase over the past year, indicating strong market confidence amid growing AI and cloud technology adoption.