Oracle shares surged on December 19 and 22, driven by its AI-driven cloud business and strategic partnerships. A record $523 billion backlog, including a $300 billion OpenAI contract, and Oracle's role as a trusted security partner in the TikTok U.S. joint venture were key catalysts. Despite concerns over $111 billion debt and $50 billion annual capital expenditures for AI infrastructure, Oracle projects 77% cloud revenue growth this fiscal year, reflecting renewed investor confidence in its long-term AI strategy.