CNBC's Robert Frank reports on how Oracle co-founder and chairman Larry Ellison's net worth has grown by more than $100 billion in the past day.
Oracle's $300 billion agreement to provide cloud services to OpenAI beginning in 2027 is one of the largest technology contracts on record. According to The Wall Street Journal, the five-year deal secures vast amounts of computing power and requires 4.5 gigawatts of electricity, roughly equal to what 4 million U.S. homes consume.
Tech giant Oracle NYSE: ORCL recently put out an earnings report that left many market observers in awe. The company's Q1 fiscal 2026 sales and adjusted earnings per share weren't what impressed; Oracle actually missed estimates on both figures.
Oracle has secured massive cloud contracts, including its $300 billion deal with OpenAI. The company's ability to deliver GPU infrastructure for a lower price gives Oracle an edge over large competitors. Oracle's multi-cloud strategy and AI databases will increase customer retention and expand use cases for the company's offerings.
President Trump's potential deal to avoid a TikTok ban is taking shape – and with several prominent US tech and investor firms set to take majority control of the China-owned app.
TikTok's American business is set to be acquired by a consortium including Oracle Corp (NYSE:ORCL, ETR:ORC), Andreessen Horowitz and Silver Lake, under a framework deal revealed after US-China talks in Madrid. President Trump is expected to discuss the plan directly with Xi Jinping this week.
TikTok's U.S. operations would be controlled by an investor consortium including Oracle , Silver Lake and Andreessen Horowitz, under a framework the U.S. and China are finalizing, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Oracle Corp ORCL shares were trading higher Monday, continuing a remarkable surge from last week. The stock is building on a five-day gain of nearly 25%, as investors cheered the company's aggressive pivot towards artificial intelligence infrastructure.
Oracle (ORCL) shares continue to skyrocket by 36% on Wednesday after reporting blowout fiscal first quarter earnings results yesterday. The stock action has propelled Oracle co-founder and former CEO Larry Ellison's net worth above Elon Musk's, cementing Ellison as the richest person in the world.
Oracle (ORCL) shares cooled off in Thursday's session after going on a tear and jumping 36% yesterday in reaction to the AI cloud company's strong fiscal first quarter earnings. Epistrophy Capital Research chief market strategist Cory Johnson comes on Market Domination to expand upon what exactly Oracle does and its various business segments.
The Q3 reporting cycle will really pick up steam when the big banks release their results near mid-October, though Oracle has already helped kick the period off positively.
The world's largest startup needs more paying users to help finance its ambitions, but researchers and consultants aren't sure they will materialize soon.