Oracle Corp. (NYSE:ORCL) announced Thursday it is expanding its Nashville footprint with a 116,000-square-foot lease at The Neuhoff District, 1320 Adams Street. The move supports rising demand for its cloud and artificial intelligence (AI) services.

Nashville Expansion Adds Capacity

The new lease will increase Oracle's Nashville capacity to about 2,000 seats across three locations. The expansion advances the company's plan to create thousands of tech jobs in the city.

Oracle is hiring across cloud engineering, software development, sales and product roles.

"New candidates as well as our existing Oracle employees are increasingly energized by what we are building here in Nashville," said Scott Twaddle, senior vice president of Oracle Cloud Infrastructure.

The new office overlooks construction of Oracle's planned riverfront headquarters along the Cumberland River. It also strengthens Oracle's long-term commitment to local hiring and workforce development through partnerships with Belmont University.

Veritone Moves AI Workloads To Oracle Cloud

In a separate development, Veritone Inc. (NASDAQ:VERI) partnered with Oracle to migrate its AI solutions to Oracle Cloud Infrastructure.

The collaboration aims to improve scalability, security and performance for enterprise AI deployments.

"Through this partnership with Oracle, we are strengthening our leadership in managing unstructured data and complex, multi-model AI workflows," said Ryan Steelberg, CEO of Veritone.

Oracle said the agreement will support expansion across media, the public sector and AI data services. It will also help enterprises deploy AI with greater "security, performance, and control."

ORCL 23% Below 100-Day SMA

The stock is currently trading 6.7% below its 20-day simple moving average (SMA) and 23% below its 100-day SMA, indicating a bearish trend. Shares have decreased 2.04% over the past 12 months and are positioned closer to their 52-week lows than highs.

The RSI is at 38.24, which is considered neutral territory, while the MACD shows a value of -2.9379, below its signal line at -2.4584, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum.

  • Key Resistance: $165.50
  • Key Support: $138.50

ORCL EPS Seen $1.82; Rev $19.09B

Oracle Corp is slated to provide its next financial update on June 10, 2026 (estimated).

  • EPS Estimate: $1.82 (Up from $1.70)
  • Revenue Estimate: $19.09 Billion (Up from $15.90 Billion)
  • Valuation: P/E of 25.6x (Indicates premium valuation)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $249.08. Recent analyst moves include:

  • B of A Securities: Buy (Target $200.00) (Mar. 24)
  • Mizuho: Outperform (Lowers Target to $320.00) (Mar. 16)
  • Guggenheim: Buy (Maintains Target to $400.00) (Mar. 13)

IGV Holds ORCL at 7.37% Weight

  • iShares Expanded Tech-Software Sector ETF (BATS:IGV): 7.37% Weight
  • First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV): 5.44% Weight
  • Pacer Data and Digital Revolution ETF (NYSE:TRFK): 8.13% Weight

Significance: Because ORCL carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

ORCL Price Action: Oracle shares were down 1.41% at $140.80 during premarket trading on Friday, according to Benzinga Pro data.

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