I'm David Faber. Join me, Carl Kintanilla, and Jim Kramer for the opening bell hour of CNBC's Squawk on the Street, the podcast.

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It is a big week for Squawk Box, and a big day here at the New York Stock Exchange today, too.

Buy Now Pay Later, Firm Klarna going public with one of this year's biggest IPOs. But first, talk about shares

of Oracle soaring in the pre-market thanks to this AI demand. Company says it expects

booked revenue from its core cloud business to exceed half a trillion dollars in that news

overshadowed this quarterly miss. This is Safra Katz on the call last night.

We now expect Oracle Cloud infrastructure will grow 77% to $18 billion this fiscal year

and then increase to $32,7,3 billion, $114 billion,

and $144 billion over the following four years.

Much of this revenue is already booked

in our $455 billion, our P.O number, and we are off to a fantastic start this year.

Morgan Stanley does today, Jim. I've been doing this a really long time, and I tell my whole

team, pay attention to this because this is a career event happening right now. I think it's true.

This is a master's, masterful call and from a very large cap stock.

And I have not seen a move overnight in particular.

We did have that main move a couple years ago with NVIDIA.

But this is not like that.

David, this is one where I'm on the conference call and I'm saying, no, no, not true,

not can't, can't be, can't be. Then look, the most you can say is, look, it's entirely possible that some of it is one large customer that we know, right? It is a number of customers, but certainly open AI is an important component of this and Stargate, but a lot of that has already been booked. Right. To your point, I mean, I had a conversation with a large technology investor this morning.

He's been around for a long time to simply said, I've never seen anything like it.

Never.

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