Oracle's AI Leap: Ellison Briefly World's Richest
Update: 2025-09-11
Description
Larry Ellison briefly dethroned the world's richest as Oracle stock skyrocketed 36% after reporting earnings driven by its booming AI cloud business. Oracle's flexible cloud approach, working across AWS, Azure, and Google Cloud, is attracting major deals, including involvement in Trump's Stargate AI project, with cloud revenue projected to hit $18 billion this year. While challenges remain in fulfilling a massive $455 billion deal backlog, investors see Oracle as a solid player in the AI race. The day's headlines also included the fatal shooting of Charlie Kirk, a surge in phishing scams, and leadership shakeups at Klarna and Scale AI.
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