Oracle is on the verge of joining the trillion-dollar club as its stock surges, driven by soaring demand for cloud computing to support AI systems. The company’s market value is now $933 billion, after shares jumped 36% on Wednesday and continued to rise on Thursday, according to Reuters.
The rally is driven by rising demand for cloud computing to power AI. Reports indicate that OpenAI has signed a $300 billion deal with Oracle for computing resources, one of the largest in the industry.
Larry Ellison, Oracle’s co-founder, has seen his fortune soar by almost $100 billion...