Inbizzy, New York, – Oracle’s stock recorded a historic rally on Tuesday (Sept 10) after the company announced a series of major contracts in the artificial intelligence (AI) cloud sector. The surge also lifted the fortune of founder Larry Ellison, bringing him closer to Elon Musk on the global rich list.
In a single trading session, Oracle’s shares jumped about 43%, marking the company’s sharpest daily rise in more than three decades. The gain added roughly $234 billion in market value, boosting Oracle’s capitalization to $913 billion and edging it nearer to the $1 trillion mark.
The rally was fueled by four large-scale AI cloud agreements, including a landmark $300 billion deal with OpenAI to supply computing capacity over five years—considered one of the biggest cloud contracts ever signed.
Oracle is also involved in building advanced AI infrastructure, such as the Stargate project developed with OpenAI and SoftBank, as well as providing cloud services for Elon Musk’s startup xAI. Oracle CEO Safra Catz stated that the company’s “remaining performance obligations” (RPO) could exceed $500 billion in the near future.
The momentum extended across the broader tech sector, with semiconductor makers Nvidia, Broadcom, and AMD also benefiting from expectations of rising demand for AI computing.
The stock surge had a direct impact on Larry Ellison’s personal wealth. According to Reuters, his net worth rose by about $100 billion to $392.6 billion, narrowing the gap with Elon Musk at the top of the world’s wealth rankings.
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