Oracle's stock has surged 75% this year, highlighting a resurgence in demand for its cloud and AI infrastructure services, putting it on track for its best year since 1999.
With a market value of over $500 billion, Oracle has overtaken major companies like Netflix and Costco, signaling a significant leap in its enterprise-computing footprint, driven primarily by its cloud applications.
Larry Ellison's wealth has skyrocketed due to Oracle's stock performance; as the company thrives, his fortune climbs to $227 billion, securing his position among the wealthiest individuals globally.
CEO Safra Catz noted Oracle's significant revenue growth is largely due to enormous demand for cloud services, especially from clients utilizing large language models, including OpenAI.
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