Oracle has become the latest big winner from Wall Street’s blockbuster bet on artificial intelligence, for now.
Co-founder Larry Ellison and chief executive Safra Catz, in an earnings report this week, revealed Oracle’s pipeline of contracts to supply computing power to AI groups had expanded to $455bn from just $138bn three months ago.
The sheer scale of Oracle’s advance stunned Wall Street, sending the company’s shares up 36 per cent to a record high on Wednesday and briefly edging Ellison ahead of Elon Musk as the world’s richest man.
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