After Oracle (ORCL) announced that long-time executive Safra Catz will make way for co-CEOs Clay Magouyrk and Mike Sicilia, who previously led the OCI business and Oracle Industries, respectively, William Blair noted that Oracle management highlighted the importance of the AI opportunity across its businesses and the synergistic benefits Oracle can provide its customers on the company’s business update call. Separately, The Wall Street Journal reported that the U.S. was close to a deal with China on the sale of TikTok, which can remove an overhang on the stock around the potential loss of TikTok as a customer, while also potentially unlocking new growth opportunities, the analyst added. The firm continues to see a favorable set-up for shares and reiterates an Outperform rating as Oracle positions itself as “a key AI beneficiary.”
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