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, known for its database software, has gained traction in the market for renting out computing power and storage over the internet, in part by targeting clients focused on AI work.

Oracle, known for its database software, has gained traction in the market for renting out computing power and storage over the internet, in part by targeting clients focused on AI work. This has led to a jump in revenue and expenses. The $30 billion deal is more than the current size of its entire cloud infrastructure business.