Shares of C3.ai (NYSE: AI) were moving higher on Tuesday even though there was no company-specific news on the AI-for-the-enterprise platform.
Instead, the stock seemed to gain after IT heavyweight Oracle (NYSE: ORCL) touted a spike in demand for its cloud services due to expanding artificial intelligence needs.
As a result, AI stocks jumped on the news, with C3.ai finishing the day up 14.7%. Oracle, ironically, jumped to start the day and was up 7% this morning, but finished up just 0.2%.
Source Fool.com