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Oracle co-founder Larry Ellison (center) watches Andy Murray of Great Britain against Alexander Zverev of Germany during their third round match on Day 9 of the BNP Paribas Open at the Indian Wells Tennis Garden on October 12, 2021 in Indian Wells, California.
Clive Brunskill | Getty Images Sport | fake images
Oracle Shares rose 6% on Tuesday following reports that the software maker is involved in a joint venture with OpenAI and SoftBank to build artificial intelligence infrastructure in the US.
President donald trumpwho returned to the White House on Monday, will announce the plans, CNBC confirmed. CBS News was the first to report the agreement. Plans call for $100 billion initially and up to $500 billion over four years.
Oracle Shares Soared 58% in 2024, Their Best Performance Since 1999, Boosting Co-Founder and Chairman Larry Ellison net worth for more than $75 billion. Ellison has connections to the White House, having hosted a fundraiser for Trump in 2020 and allied himself with tesla executive director Elon Muskwho appeared at Trump’s inauguration on Monday after advising him for months.
Oracle is also the cloud infrastructure provider for TikTok, which went offline over the weekend in response to a law passed by Congress and signed by former President Joe Biden. tiktok said was restoring service to US users starting Sunday night.
Last year, Oracle acquired the cloud business of artificial intelligence startup OpenAI, which needs a lot of NVIDIA graphics processing units to train and run AI models for its ChatGPT assistant and other products.
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