Oracle's (NYSE:ORCL) expanded role in the Stargate Project reinforces BNP Paribas Exane's belief that hyperscalers remain of the best ways for investors to take advantage of the rapid rise of artificial intelligence.

Oracle shares gained as much as 3.9 per cent to $227.46, a record high, following the news. The stock has jumped 36 per cent this year, fueled by investor enthusiasm in its cloud business