Workflow
Oracle’s Late AI Bet Sends Shares Soaring, Ellison Tops Musk as World's Richest Man

Oracle Corp. stock rocketed as much as 40% in intraday trading—a rally so dramatic, it appears to have set a record for any company valued north of 500billion.Thetrigger?AboldAIstrategyfinallypayingoff.AttheheartoftodaysfireworksisOraclesupcloseandpersonalpivotintoartificialintelligenceinfrastructure.ThecompanyrevealedthatitsOracleCloudInfrastructure(OCI)businessnowexpectsmassiverevenuegrowth:CEOSafraCatzsaidOCIrevenueisexpectedtoreach500 billion. The trigger? A bold AI strategy finally paying off. At the heart of today’s fireworks is Oracle’s up-close-and-personal pivot into artificial intelligence infrastructure. The company revealed that its Oracle Cloud Infrastructure (OCI) business now expects massive revenue growth: CEO Safra Catz said OCI revenue is expected to reach 18 billion in ...