Oracle's growth signals the end of experimental AI and urgent need for enterprises to secure production infrastructure now.

Shares of the software giant stock surged as much as 36% on Wednesday after the company issued a blockbuster outlook for its AI-driven cloud-computing business. It marked the company's biggest single-day percentage gain since 1992.

The big news was the explosive growth of Oracle's backlog. The company's remaining performance obligation (RPO) -- or contractually obligated sales that haven't yet been recognized as revenue -- surged 359% to a record $455 billion, as Oracle signed four multibillion-dollar contracts during the quarter.

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Artificial intelligence (AI) is reshaping industries from healthcare to finance, powering innovations that promise unprecedented efficiency and discovery. Yet, in the spotlight of this revolution, giants like Nvidia (NASDAQ:NVDA) and Palantir Technologies (NYSE:PLTR) have dominated headlines,

Stifel analyst Brad Reback maintained a Buy rating and raised the price target from $250 to $350. Evercore ISI Group maintained an Outperform and raised the price target on Oracle stock from $270 to $340. Wolfe Research analyst Alex Zukin maintained Oracle with an Outperform and raised the price target from $300 to $400.

The database-software company notched billion-dollar contract wins in its latest quarter, sending shares soaring more than 30% in premarket trading.