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Oracle’s AI Cloud Boom Propels Ellison Briefly to No. 1 as Shares Score Biggest Jump Since 1992

A $455 billion backlog with aggressive AI‑cloud growth targets overshadowed slight revenue and EPS misses.

FILE - Larry Ellison, chairman and chief technology officer of Oracle Corporation, sits in the Oval Office of the White House as President Donald Trump signs an executive order, Monday, Feb. 3, 2025, in Washington. (AP Photo/Evan Vucci, File)
Oracle's Larry Ellison is now the world's richest person.
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Overview

  • Oracle shares surged as much as 41% intraday, pushing the market value near $950 billion in the stock’s largest single‑day rally since 1992.
  • CEO Safra Catz said Oracle signed four multibillion‑dollar contracts with three customers during the quarter and expects additional large deals.
  • Remaining performance obligations jumped 359% to $455 billion, signaling contracted future revenue tied to recent agreements.
  • The company projected cloud infrastructure revenue of $18 billion this fiscal year and outlined targets that rise toward $144 billion by 2030.
  • Larry Ellison’s roughly 41% stake translated the rally into a $100–$101 billion paper gain, with Bloomberg’s index briefly placing him ahead of Elon Musk as methodologies and intraday swings produced differing rankings.