Oracle shares jumped over 40%, lifting its market value to about $933 billion and putting it within reach of the $1 trillion club. The rally followed a $300 billion, five-year deal with OpenAI, marking a major win for Oracle’s cloud business.
The surge boosted co-founder Larry Ellison’s wealth by nearly $100 billion this year, narrowing the gap with Elon Musk as the world’s richest.
Oracle’s rise also fueled a rally in global tech markets, lifting semiconductors, cloud stocks, and Asia’s tech-heavy indices. Analysts say expectations are high, but execution on mega AI contracts will be key to sustaining momentum.