Oracle shares soared to a record high, as the database giant announced a $30bn cloud computing contract worth nearly triple the annual revenue it generates from its fastest-growing division. The tech group,

Oracle stock is hovering just above the record-high close it recorded Monday, propelled by the cloud computing giant's disclosure of new deals, including one worth an estimated $30 billion a year.

Oracle Corp. signed a cloud services deal that it expects to contribute more than $30 billion in annual revenue starting in the fiscal year 2028.