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Ellison overtakes Musk in wealth as Oracle stock skyrockets

As Oracle stock surges by many billions of dollars in the span of a few hours, billionaire Larry Ellison quickly surpassed Elon Musk in terms of net worth,

Larry Ellison (left) and Elon Musk (right).
Larry Ellison (left) and Elon Musk (right).

In the span of less than four hours alone, Oracle stock surged 40% following its earnings report which, although in many regards was slightly below expectations, showed that it had immense AI potential fiscally.


The report showed that AI cloud revenue is set to rise to $144 billion by 2030, exciting many investors who did not anticipate such a large projection.


Safra Catz, Chief Executive Officer of Oracle, responded strongly, "We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year... and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years."


As of today, Ellison's net worth reached $388 billion, surging past Musk's $384 billion, making him the wealthiest individual in the world.


Ellison has been a key proponent in the Trump administration's artificial intelligence innovation initiative labeled "Stargate," and has presided over some of the largest investments in AI infrastructure, with his Imagene AI project surpassing $23 million, and planning to invest up to $500 billion into the Stargate project.


In Oracle itself, Ellison invested $5 billion in a pledge for AI cloud infrastructure, and $30 billion in a cloud-computing deal with OpenAI.

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