Oracle surge lifts US chipmakers as AI optimism builds

U.S. chipmakers' shares rise in early trading after Oracle ORCL.N says it expects booked revenue at its cloud infrastructure business to exceed half a trillion dollars

ORCL shares jumped 34.7% to a record high of $325.90, putting the stock on track for its biggest one-day gain since 1992.

*Nvidia NVDA.O rises 4.2%, Advanced Micro Devices AMD.O up 4.2%, Broadcom AVGO.O climbs 7.1% to record high

*Analysts at BofA Global Research said that while the profitability of AI workloads remains debated, it is clear Oracle is capturing share in the large and fast-growing market for AI infrastructure. They estimate the AI applications industry will reach $155 billion by 2030.

"Oracle shares soared amid optimism about AI-related revenue, sending a strong message to the broader market that the tech revolution is still red-hot" - Russ Mould, investment director at AJ Bell

Philadelphia Semiconductor index .SOX up 16.8% YTD