A trader works under a screen displaying the Oracle logo and trading information on the floor of the New York Stock Exchange (NYSE) on March 9, 2026 in New York City, USA.
Brendan McDiarmid | Reuters
oracleThe company’s stock rose 5% on Tuesday as the software stock rallied for a second session and the company expanded its capacity agreement with the company. bloom energy.
Bloom stock soared 20%.
The rally built on Monday’s big rally in software stocks, with Oracle up nearly 13%. ServiceNow, Palantir and aprovin It rose 3% on Tuesday, but hubspot and unity software It rose more than 4%. sales force and adobe Added more than 1%.
Software stocks have tumbled over the past few months amid growing concerns that new artificial intelligence tools will upend business models. The decline also raised concerns that private credit, the main lender to the sector, could be at greater risk of default.
Oracle expanded its capacity partnership with Bloom Energy on Monday, days after receiving a warrant to buy $400 million in stock in the fuel cell power company.
As part of the deal, Oracle will procure up to 2.8 gigawatts of Bloom’s systems to meet rapidly growing data center energy demands.
The software giant has already raised more than $100 billion in debt to support data center expansion and large-scale AI buildouts, and is also a key technology partner for the massive Stargate project.
Oracle stock has fallen 15% this year.
CNBC’s Jordan Nobe contributed to this article.
