Oracle shares surged over 13% on June 12th to a record high following cloud deals with Google and OpenAI.

The company will bring its database to Google's cloud in November and partner with Microsoft and OpenAI for additional computing capacity, despite disappointing Q4 results.

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The company reported $14.29 billion in revenue for the quarter, up 3% year over year and shy of the $14.55 billion expected by analysts according to LSEG. Oracle’s adjusted earnings per share came in at $1.63, while analysts expected $1.65.

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Oracle also reported $98 billion of remaining performance obligations, or RPO, in the fourth quarter, which is a figure that represents the revenue that the company expects to receive from contracts in future quarters. 

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CEO Safra Catz said the company signed large sales contracts over the third and fourth quarters primarily driven by demand to use Oracle’s cloud to train artificial intelligence models, according to a release.

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Alongside its results, Oracle said it is partnering with Microsoft and OpenAI to help supply additional computing capacity for the startup. 

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Oracle also announced it is bringing its database to Google Cloud.