File photo: Oracle’s shares rose slightly on Thursday, adding to a record high in the previous session and lifting stocks across technology. | Photo credit: Reuters
Oracle shares rose slightly on Thursday, adding to a record run in the previous session and lifting stocks across the technology sector as the company inches closer to the trillion-dollar club on growing gains from its AI cloud business.
The enterprise software maker’s remarkable rise, fueled by a wave of multibillion-dollar cloud deals, puts the spotlight on acquiring computing power from companies pouring billions into becoming leaders in the AI race.
The stock’s gains also pushed Oracle co-founder Larry Ellison to overtake Elon Musk as the world’s richest person.
“Oracle lit a fire under the AI trade,” said Richard Hunter, head of markets at Interactive Investor, adding that the company’s multi-billion dollar demand outlook has caused a “ripple effect” in AI-related stocks.
The Wall Street Journal also reported Wednesday that OpenAI has signed a $300 billion deal with Oracle for computing power, one of the largest in history, likely accounting for the bulk of the new revenue ORACLE outlined Tuesday.
Oracle shares rose 0.3% in early trading after surging as much as 35.9% on Wednesday, boosting the company’s market valuation to a record $933 billion as of its last close.
The stock has nearly doubled this year, making it among the top performers in the S&P 500 index, which is benefiting from the gains made by the so-called Magnificent Seven stocks.
Co-founder Ellison saw his net worth soar by nearly $100 billion to $392.6 billion, largely driven by his 41% stake in Oracle, compared to Tesla CEO Musk’s $439.9 billion fortune, which remains at the top of Forbes’ global wealth rankings.
Oracle shares were trading at a premium to its cloud peers. Their 12-month forward price-to-earnings ratio was 45.3, compared to Amazon’s 31.3 and Microsoft’s 31.
Published – September 12, 2025 10:48 AM IST
