Eiii, chale! You hear say Oracle ein co-founder, Larry Ellison, chop Elon Musk as the world's richest man for some short time? Masa, money dey talk o! This thing happen Wednesday morning, and the reason be say Oracle ein shares shoot up like crazy – over 40%!
Why Oracle dey blow up like that?
Them dey talk say Oracle ein cloud infrastructure business dey do well papa, especially with all this artificial intelligence (AI) tins. You know AI dey hot for town now, and Oracle dey provide the data centers and infrastructure wey these AI companies dey use.
According to Bloomberg Billionaires Index, Ellison ein wealth jump go $393 billion, surpassing Musk ein $385 billion. But e no last long o, by the end of the day, Musk come back top.
Musk ein wahala small
Before Ellison chop the title, Musk be dey hold am for almost one year. But Tesla ein shares dey fall this year, plus some investor wahala dem for Trump ein government ein electric vehicle plans.
Oracle ein future bright
Oracle dey expect say demma cloud business go jump 77% this year, go reach $18 billion. Dem dey sign big deals with AI companies, so the future dey look good for them. Safra Catz, the chief executive, talk say dem sign four multibillion-dollar contracts for the last quarter, and dem dey expect more to come. So keep your eye on Oracle, chale! Money dey move!
- Oracle shares soared due to cloud infrastructure demand.
- Ellison briefly became the world's richest person.
- Musk regained the top spot by the end of the day.
- AI is driving growth for Oracle.