Larry Ellison Nearly $100 Billion Richer As Oracle Surges In Largest Rally Since 1992

Core Insights - Oracle's stock experienced a significant rally, with shares soaring 38% to approximately $334, marking the largest intraday gain since December 1992 [1][2] - The company's market capitalization increased from $678.4 billion to around $940 billion following the surge in stock price [2] - Oracle's projections for cloud infrastructure revenue are highly optimistic, estimating growth from $18 billion this fiscal year to $144 billion by fiscal year 2030 [2] - Remaining performance obligations, indicating contracted revenue yet to be recognized, surged 359% to $455 billion due to multiple multibillion-dollar contracts [3] Financial Performance - Oracle reported first-quarter earnings per share of $1.47 and revenue of $14.9 billion, slightly below economists' expectations of $1.48 EPS and $15 billion in revenue [6] - The company's chairman, Larry Ellison, saw his net worth increase by nearly $100 billion, bringing his total fortune to approximately $391.8 billion, positioning him as the second-wealthiest person globally [4] Analyst Reactions - Analysts expressed astonishment at Oracle's cloud computing forecasts, with comments highlighting a "seismic shift" in computing and describing the growth in remaining performance obligations as "amazing" [5] - Deutsche Bank and TD Cowen analysts specifically noted the significance of Oracle's results, indicating a transformative moment for the company [5]