Oracle (ORCL +1.22%) stock posted a big gain in Tuesday's trading. The software giant's share price closed out the daily session up 4.7%. The S&P 500 gained 1.1% in the session, and the Nasdaq Composite gained 1.9%.
The broader market moved higher today thanks to hopes for negotiations that could end the Iran war. In addition to that source of bullish momentum, Oracle stock also appears to have seen gains connected to news that the company is expanding its partnership with Bloom Energy.
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Tech stocks rallied today on Iran hopes
Growth-dependent tech stocks generally saw strong gains in Tuesday's trading as investors bet that the U.S. and Israel could make a deal to end the war with Iran in the near future. President Donald Trump said yesterday that the U.S. had been contacted by Iranian officials and that they would "like to make a deal very badly." While there are still significant causes for uncertainty regarding the conflict, the market appears to be having a positive reaction to the U.S.'s recent moves to blockade the Strait of Hormuz when it comes to accelerating the timeline for ending the war.
NYSE: ORCL
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Oracle just expanded its partnership with Bloom Energy
After the market closed yesterday, Oracle and Bloom Energy announced that they were expanding their partnership. As per the recent announcement, Oracle recently inked a contract for 1.2 gigawatts of energy capacity from Bloom Energy.
While some investors and analysts have recently raised concerns about Oracle's positioning as the artificial intelligence (AI) revolution continues to unfold, the company's new deal with Bloom suggests that the software giant is taking a full-speed-ahead approach to its AI infrastructure buildout.
