Oracle's recent revenue report and highly optimistic forecasts for the cloud infrastructure business have sparked a major gathering across the tech sector. The surge temporarily lifted co-founder Larry Ellison to the position of the world's wealthiest person. The software giant's positive outlook, which showed robust demand for AI infrastructure, also had a ripple effect on other major players. Companies such as Nvidia, Dell and Taiwan Semiconductor Manufacturing Company (TSMC) have seen stocks rise significantly, reflecting market enthusiasm for the entire AI ecosystem.Following Oracle's announcement, its shares rose 36%, and several other companies linked to the expansion also rose in stock prices, according to a CNBC report.Nvidia, the leader in AI chips and Oracle's leading supplier, saw its inventory rise by 4%. Meanwhile, TSMC, which manufactures chips for Apple, Google, Qualcomm and Nvidia, rose more than 4% after reporting sales in August increased by 34%.Broadcom, the key provider of AI chip networking gear, jumped 10%, while AMD (the major competitor of Nvidia's graphics processors) saw a 2% increase in stock. Micron, the maker of memory for advanced AI chips, rose 4%. Super Micro and Dell, who build a complete server system, each earned 2%.Even CoreWeave, one of Oracle's competitors, a “neo-cloud” AI-focused company, has seen a 17% rise in stocks, driven by broader market enthusiasm for AI calculations. As Oracle CEO Safra Catz pointed out, the majority of the company's capital expenditures are about “the equipment that generates revenues that enter the data center,” indicating its focus on building infrastructure.
Larry Ellison becomes the wealthiest man in the world
Oracle co-founder Larry Ellison has surpassed Elon Musk and has become the world's wealthiest person. Oracle's shares have skyrocketed, with Ellison's net worth rising by $100 billion in a day to $393 billion. The decline in Tesla's stock value contributed to Musk's $385 billion, ending its governance in a short period of time.
