Oracle (ORCL) shares surged in premarket trading Friday, a day after Executive Vice President Doug Kehring told analysts its annual revenue will rise to at least $104 billion in fiscal 2029.

Citi analysts called Kehring's projections "lofty," adding that the new 2029 target, a bet on 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI)-fueled growth, exceeded eveꦺn tꦜhe most bullish expectations.

"FY29 is a ways out, and it's hard for us to underwrite given the rapid evolving GenAI/tech landscape and questions around durability of AI workloads," they wrote, saying the targets implied that Oracle would chalk up an 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) 澳洲幸运5官方开奖结果体彩网:compound annual growth rate (CAGR) of at least 20% between fisca♌l𒊎 2026 to fiscal 2029.

The forecast comes just days after the software maker posted 𝔍澳洲幸运5官方开奖结果体彩网:Wall Street-beating quarterly resuꦦlts and announced a multicloud partnership with Amazon's (AMZN) Amazon Web Services.

O♒racle Also Raises🧜 Fiscal 2026 Forecast, Beating Consensus Estimates

The company also reportedly raised its sales outlook for fiscal 2026 to at least $66 billion from a prior target of $65 billion, ahead of the $64.8 billion consensus estimate of analysts polled by Visible Alpha.

Oracle didn't immediately return an Investopedia request for comment.

Shares rose 6% soon before the opening bell and aꦚre up more than 50% this year on booming demand from✨ AI developers for cloud computing.