John DiFucci from Guggenheim Securities said he was "blown away." TD Cowen's Derrick Wood called it a "momentous quarter." And Brad Zelnick of Deutsche Bank said, "We're all kind of in shock, in a very good way."

That's how the analysts opened their comments and questions during Oracle's quarterly earnings call on Tuesday, as the company's stock price was in the midst of a 28% after-hours rally. The software vendor had just reported an earnings and revenue miss, but nobody was paying attention to that.

Wall Street was singularly focused on Oracle's forward-looking numbers and a massive growth trajectory that the company now sees thanks to its booming cloud infrastructure business and a host of new artificial intelligence deals.

"There's no better evidence of a seismic shift

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