Update: The Flyover reports today that Larry Ellison (founder of Oracle, age 81) is now richer than Elon Musk! "Ellison, now worth an estimated $393 billion, overtook Elon Musk as shares in Oracle soared over 36% on Wednesday. The stock closed at $328.33."
What a change of fortune! 😊
Good news! This is huge!
As a former Oracle database software developer I am personally invested! 😊
"The massive commitment far outstrips the startup’s current revenue. The deal is one of the largest cloud contracts ever signed, reflecting how spending on AI data centers is hitting new highs despite mounting concerns over a potential bubble. It will require 4.5 gigawatts of capacity, roughly comparable to the power consumed by about four million homes. Oracle shares closed up 35.95%. The breakneck rally helped power the S&P 500 to another record and put Oracle co-founder Larry Ellison in range of Elon Musk as the world’s richest person."
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