Oracle (ORCL) shares surged more than 11% during trading. The rally added over $44 billion to the company's market valuation.
Oracle announced new artificial intelligence capabilities for its Utilities Industry Suite at the Customer Edge Summit in Austin, Texas. New features include a GenAI Asset Summarization tool for asset history and AI-powered anomaly detection for meter data management.
The enhancements aim to reduce operating costs, improve grid reliability, and enhance customer experiences. Oracle is embedding AI across its entire IT stack, from infrastructure to applications.
The strategy integrates AI into core business applications to automate workflows across customer, grid, and asset operations.