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Oracle stock roared 35.95% higher on Wednesday after reporting gobsmacking cloud demand numbers, setting the company to a historic gain.

The cloud giant posted an all-time high and had its best day since 1992. Oracle gained $244 billion in market cap and is now at $922 billion.

The company said Tuesday after the bell that it has $455 billion in remaining performance obligations, up 359% from a year earlier.

"This is a very historic kind of print right here from Oracle with this backlog," Ben Reitzes, technology research head at Melius Research, told CNBC's " Closing Bell: Overtime " on Tuesday. "The Street was looking for about $180 billion in RPO and they're talking about a number that is a multiple

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