Oracle’s AI-Driven Stock Rally Propels Larry Ellison to Brief Title of World’s Richest Person

Oracle shares surged 36% on September 10 despite missing Q1 earnings, fueled by a 359% explosion in AI cloud infrastructure bookings. The rally added $100 billion to co-founder Larry Ellison’s net worth, briefly surpassing Elon Musk. Oracle’s market cap now stands at $922 billion.

Investors shrugged off earnings misses, focusing instead on $455 billion in remaining performance obligations for AI services. Ellison’s 40% stake magnifies the impact of Oracle’s 98.6% YTD stock gain—a stark contrast to Tesla’s 14% decline.

The cloud infrastructure division’s projected $10 billion revenue for FY2026 suggests this may be growth rather than bubble. Oracle’s AI pivot mirrors crypto’s infrastructure plays, where tangible adoption metrics increasingly TRUMP short-term financials.