Oracle shares up more than 8% in overnight trading. Oracle beat estimates for quarterly results and forecast second-quarter revenue growth above estimates on Monday, boosted by growing demand for its cloud offerings.

The Texas-based company's push into the cloud computing market is showing promising results and it has started narrowing the gap with market leaders Microsoft and Amazon Web Services.

Oracle Cloud Infrastructure remains strong and sustained demand for cloud compute is expected, particularly in AI applications.

Hewlett Packard Enterprise's shares dropped 5% in overnight trading after the AI server maker announced a $1.35 billion mandatory convertible preferred stock offering to fund its acquisition of Juniper Networks.

Earlier this year, HPE said it would acquire the networking equipment manufacturer for $14 billion in an all-cash deal, in an attempt to enhance the company's AI offerings.

HPE said net proceeds from the offering will be used to cover fees and expenses related to the pending acquisition.

A convertible preferred stock offering allows investors to buy preferred shares, which often fetch higher dividends than common shares. Investors also have the option to convert their preferred stocks into common shares.