By Atoyebi Nike
Oracle’s stock fell nearly 5% on Thursday, cooling after a historic 35.9% surge the previous day that pushed its value to $933 billion and briefly placed it near the trillion-dollar threshold.
Co-founder Larry Ellison’s wealth rose to about $387.6 billion, narrowing the gap with Elon Musk, who tops Forbes’ global billionaire list at $437.5 billion.
The rally was fueled by multi-billion-dollar cloud contracts, including a $300 billion deal with OpenAI for computing power, one of the largest in history.
Despite the pullback, Oracle’s stock has nearly doubled this year, making it one of the best performers in the S&P 500, with shares trading at a premium to rivals like Amazon and Microsoft.
