Oracle rises after Google AI deal announced

** Oracle ORCL stock advancing 1.3% and trading near record highs on Thurs after co announced deal to offer Alphabet's GOOG Gemini AI models via Oracle cloud services and apps

** Partnership lets Oracle customers use Google AI for text, video, images, audio generation, paid with Oracle cloud credits

** Move expands Oracle's AI options for clients, while Google aims to boost cloud reach vs rivals like Microsoft MSFT

** Shares ~4% below record high close on August 6. Stock is up about 48% YTD, outperforming S&P 500 SPX which is up 10%

** ORCL recently traded at 34x expected earnings, well above 5-yr avg forward PE of 19