(Reuters) -Futures tied to the S&P 500 touched a record high on Wednesday, driven by a surge in cloud firm Oracle, as investors awaited producer prices data due later in the day for insights into U.S. inflation.

Oracle soared nearly 29% in premarket trading after it said it expected booked revenue at its Oracle Cloud Infrastructure business to exceed half a trillion dollars, as demand for its low-cost cloud infrastructure services grew.

Some chipmakers rose, with Nvidia gaining 2%, Advanced Micro Devices 3.3% up and Broadcom adding 2.2%.

Companies supplying power to data centers also rose, with Constellation Energy up 1.4%, Vistra advancing 2.8% and GE Vernova 2.5% higher.

A producer prices report will be watched later in the day to assess the impact of U.S. President Donald Trump’s ta

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