CNBC’s Jim Cramer is attributing Oracle Corp.‘s (NYSE:ORCL) monumental $455 billion backlog to the ‘Stargate’ AI infrastructure project, questioning the 359% surge in the pipeline on a social media post.
Check out ORCL’s stock price here.
Cramer Weighs On Oracle Trade
In a series of posts on X, Cramer expressed astonishment at the market’s reaction and Oracle’s business pipeline. “Trying to figure out how much of that backlog for Oracle is Stargate because I don’t know who else would be placing those orders,” he wrote.
He also noted what he described as “panic buying” in the stock, stating, “Jeez there is panic buying in Oracle like I have never seen in a big cap stock. I wonder how heavy the short position is!!!”
His commentary suggests that the sheer scale of Oracle’s newly signed contracts points toward a mega-deal, with the Stargate venture being the most likely candidate.