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Oracle Surges Over 60% This Year, Marking Best Performance Since Dot-Com Bubble; Founder Larry Ellison's Fortune Jumps by $75 Billion
2024-12-27
Oracle's cloud infrastructure is drawing significant attention in the realm of AI, showcasing its capability to train multiple core AI models globally at an accelerated pace and reduced cost. Company executives foresee a doubling of revenue, anticipating it to surpass $100 billion within the next five years. Analysts note that the strong personal rapport between Oracle's founder, Larry Ellison, and Tesla CEO Elon Musk could potentially bolster the company's business prospects. However, some skeptics express concern that Oracle's trend of doubling its capital expenditures in fiscal year 2025 might prove unsustainable.
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