Oracle fell 9% in premarket trading after second-quarter revenue grew less than Wall Street expected on Monday, hit by stiff competition among database and cloud services providers.

While seeing healthy growth in its cloud segment, Oracle competes with cloud heavyweights such as Microsoft and Amazon.com, which have established a large presence in the field.

Wall Street expectations for AI-linked firms have been high as they bet on the technology to be a strong growth driver in the future. The company's shares have soared over 80% so far this year.

Oracle reported revenue of $14.06 billion in the second quarter, up 9% from a year ago, but below estimates of $14.11 billion, as per data compiled by LSEG.

C3.ai, Inc. rose 7% in premarket trading after it raised its forecast for fiscal year 2025 revenue on Monday, helped by healthy demand for the company's enterprise artificial intelligence software as companies look for tools to help streamline their workflow.

The company now expects revenue to be between $378 million and $398 million, from its previous forecast of $370 million to $395 million.

The Redwood, California-based company provides software for enterprises to build and develop AI applications for various industries, including energy, manufacturing, financial services and healthcare.

The company's shares have risen over 45% so far this year, in part due to its expanded partnership with cloud heavyweight Microsoft, under which C3.ai will become the "preferred" AI application software provider on Microsoft's Azure cloud.

C3.ai reported $94.3 million in second-quarter revenue, a 29% increase from last year and above analysts' estimate of $91 million, according to data compiled by LSEG.