Oracle stock soars 40% as it projects half a trillion dollars in revenue, setting Ellison up for $90B gain

Oracle shares surged nearly 40% Wednesday – on track for its best day since 1999 – on jaw-dropping projections that the software giant will reap half a trillion dollars in the future from its AI business.In the first quarter, Oracle signed four multibillion-dollar contracts with three separate customers, CEO Safra Catz said in an earnings release on Tuesday.“We have signed significant cloud contracts with the who’s who of AI, including OpenAI, xAI, Meta and many others,” Catz said during a call with investo ...