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Oracle (ORCL) stock jumped over 36% Wednesday to a new record close after the software giant said its AI-fueled cloud revenue is set to jump to $144 billion by its 2030 fiscal year.That marks a massive leap from the company's projection of less than $20 billion for the business in its current fiscal year."We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year — and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years," CEO Safra Catz said in a statement on Tuesday.Oracle stock's rise Wednesday was...

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter. CNBC reports: In a wide-ranging conversation with Bill Frist, a former U.S. Senate Majority Leader, Ellison said Oracle is moving a "huge campus" to Nashville, "which will ultimately be our world headquarters." He said Nashville is an established health center and a "fabulous place to live," one that Oracle employees are excited about. "It's the center of the industry we're most concerned about, which is the health-care industry," Ellison said. The announcement was seemingly spur-of-the-moment....

By day, Brian Krewson is a technical expert at computing giant Oracle. But by night he’s Mr. Poto, a fire-breathing, stilt-walking party entertainer, happy to perform at birthdays, weddings and corporate picnics. A Facebook photo from Halloween 2020 shows Krewson dressed in full methlab attire as a remarkably convincing Walter White, the infamous drug trafficker played by Brian Cranston in Breaking Bad. According to a Justice Department DOC, Krewson's resemblance to that character extends beyond appearance. The agency alleges that Krewson helped store and launder $54 million worth of cryptocurrency for two friends, Christopher Castelluzzo and Luke Atwell, who were...

Oracle co-founder Larry Ellison is set to donate tens of millions of dollars to back Sen. Tim Scott (R-SC) for president in 2024, according to reports. Ellison has been planning to support Scott’s presidential bid since he donated $30 million to the pro-Scott super PAC, Opportunity Matters Fund, CNBC reported. After months of speculation, Scott officially kicked off his presidential campaign on Monday in North Charleston, South Carolina. Scott gave a shoutout to “one of his mentors,” Ellison, who sat in a VIP section at the rally. “One of my mentors, Larry Ellison, is with us today, and I am...

Giving an entirely new meaning to the term “collaboration,” Oracle has become a paying customer of Amazon Web Services as part of Larry Ellison’s strategy to make Oracle’s databases available on as many cloud platforms as possible. Ellison opened his remarks on this week’s earnings call by describing the availability of Oracle’s MySQL HeatWave database on AWS and emphasized repeatedly the imperative of customer choice. Declaring that “the multi-cloud era has begun,” Ellison said, “Our job is to give our customers the ability to choose application and infrastructure technology from multiple cloud providers, and then have those different clouds coexist...

Last week, billionaire internet entrepreneur (Netscape co-founder) Jim Clark broke the news to the WSJ that he sold his oceanfront estate near Palm Beach, Florida, for $173mln. At the time, Clark wouldn’t reveal who the mystery buyer was. Bloomberg reports the buyer of the most expensive property ever sold in Florida is no other than billionaire Oracle Corp. co-founder Larry Ellison. Ellison’s new estate includes a 62,000-square feet Mediterranean-style mansion and several other buildings on the property with more than 30 bedrooms. It was noted by Bloomberg The real estate transaction was off-market. Clark bought the estate in early 2021...

The Milton Keynes outfit will henceforth be known as Oracle Red Bull Racing, with the US-based company following on from Infiniti - who had the title deal from 2013 to 2015 - and Aston Martin, whose name was incorporated from 2018-2020. Honda was added to the end of the team name only for the 2021 season. Oracle first joined Red Bull last March in what was announced at the time as a multi-year deal, and which has now been upgraded. Since 2013 Oracle has also been the sole title sponsor of America's Cup contender Team USA, owned by company founder...

The Oracle engineer who created the APEX System and then worked with the CDC to develop a COVID tracking system died late last month from coronavirus. Joel Kallman announced he took the vaccine back in March.

Oracle and Walmart’s plan to buy TikTok’s U.S. operations has been pushed back indefinitely, as President Joe Biden reviews former president Donald Trump’s efforts to address potential security risks from Chinese tech companies, The Wall Street Journal reported on Wednesday, citing people familiar with the matter. Oracle’s stock was slightly positive in premarket trading Wednesday and Walmart’s was slightly negative. Trump pushed TikTok to find an American buyer by threatening to ban the popular video app due to concerns that its Chinese parent company ByteDance could hand over U.S. users’ data to the Chinese government. TikTok has denied that this...

Microsoft’s bid to purchase TikTok’s US operations was rejected, the company announced Sunday, with Oracle reportedly winning the bid to help run the popular social media app in the states. The deal between Tiktok’s Beijing-based owner ByteDance and Oracle is not believed to be structured as an outright sale, a source told The Wall Street Journal. Instead, the software giant is set to be the app’s “trusted tech partner,” in the US, the report said.

Oracle Corp. co-founder Larry Ellison said he has moved his primary residence to Hawaii, becoming the latest Silicon Valley executive to depart the state where they built their fortunes. Ellison, the world’s 11th-wealthiest person, notified his staff Monday of the move. Recode first reported the executive’s decision, which followed Oracle’s announcement Friday that it had shifted the company’s headquarters to Austin, Texas, from Redwood City, California. “I’ve received a number of inquiries about whether or not I will be moving to Texas,” Ellison wrote in a memo to Oracle’s employees. “The answer is no. I’ve moved to the State of...

REDWOOD CITY (CBS SF) – Longtime Bay Area software giant Oracle announced Friday that it has moved its headquarters to Texas, becoming the latest Silicon Valley firm to relocate during the COVID-19 pandemic. According to a regulatory filing obtained by Bloomberg, the company based in Redwood City will be headquartered in Austin. In the filing, the software company said the move “means that many of our employees can choose their office location as well as continue to work from home part time or all of the time.” Oracle said it would continue to support other office locations throughout the country,...

The California Exodus continues, as Oracle has become the latest tech company to leave the Golden State for Texas.The company noted the move at the very bottom of their latest 10-Q, the tech company founded 43 years ago in Santa Clara, California announced that they would be "implementing a more flexible employee work location policy and has changed its Corporate Headquarters from Redwood City, California to Austin, Texas," where the company opened a massive 40-acre riverfront campus in 2018 with the capacity for up to 10,000 employees. The company says the move will "best position Oracle for growth and provide...

TikTok's US footprint is saved in a deal that includes Oracle and Walmart owning 20% of a newly formed TikTok Global and an IPO within 12 months. Oracle said it will be TikTok's cloud provider in a deal that gives it a 12.5% stake in the social media network and a key reference customer. Walmart will own a 7.5% stake and explore the intersection of TikTok and e-commerce. In a statement, Oracle said "the technical decision" by TikTok was based on the Zoom reference account. However, TikTok, owned by ByteDance, was facing a Sunday shutdown order over security concerns by...

Oracle Corp said on Monday it would team up with China’s ByteDance to keep TikTok operating in the United States, beating Microsoft Corp in a deal structured as a partnership rather than an outright sale. Getting the transaction across the finish line will rest heavily on Oracle co-founder and Chairman Larry Ellison, one of the few top technology executives to openly support President Donald Trump, who has ordered ByteDance to divest TikTok amid concerns over the safety of the personal data of U.S. consumers. Key moments: December 2016: Oracle Chief Executive Safra Catz joined then president-elect Trump's transition team, and...

TikTok has reached an agreement to partner with software giant Oracle, a landmark deal that could redefine how the U.S. and China square off over the reach of their homegrown technology companies. The deal, which was confirmed Sunday by a source with direct knowledge, comes after the Trump administration pressured TikTok to sell its U.S. business over concerns about the threat to national security. The administration alleged that the company's ties to China through its parent company, ByteDance, meant it would have to hand over data about Americans if asked by China's government. TikTok has denied that it would hand...

President Donald Trump said U.S. enterprise software giant Oracle is “a great company” when asked if if it would be a good buyer for TikTok. His endorsement for Oracle, co-founded by billionaire Larry Ellison, comes after reports that the Californian tech firm is interested in buying TikTok’s North America, Australia and New Zealand businesses from Chinese parent company ByteDance. Speaking at an event in Yuma, Arizona, Trump said: “Well, I think Oracle is a great company, and I think its owner is a tremendous guy. He’s a tremendous person. I think that Oracle would be certainly somebody that could handle...

Last week Oracle co-founder and Chairman Larry Ellison held a fundraiser for President Trump’s re-election campaign at his Rancho Mirage estate near Palm Springs, Calif. At the time the fundraiser was announced, there was silence from The Resistance, which is unusual given the reality of today’s political environment – public figures who support Trump must be shamed and shunned. It turns out about 300 employees of the American multinational computer technology corporation protested Ellison’s fundraiser but they did so the day after the event which seems like an odd way of going about it. Oracle employs about 136,000 people, so...

Last week Oracle co-founder and Chairman Larry Ellison held a fundraiser for President Trump’s re-election campaign at his Rancho Mirage estate near Palm Springs, Calif. At the time the fundraiser was announced, there was silence from The Resistance, which is unusual given the reality of today’s political environment – public figures who support Trump must be shamed and shunned. It turns out about 300 employees of the American multinational computer technology corporation protested Ellison’s fundraiser but they did so the day after the event which seems like an odd way of going about it. Oracle employs about 136,000 people,...

Employees at software giant Oracle are demanding that the company’s Chairman and CTO Larry Ellison cancel a fundraiser for President Donald Trump set to take place this week. Recode reports that following Oracle Chairman Larry Ellison’s decision to host a fundraiser for President Trump this week, employees at the company have demanded that Ellison cancel the event. Breitbart News reported that President Donald Trump is expected to attend a campaign fundraising event at Ellison’s Rancho Mirage estate on Wednesday, just two weeks before California’s Super Tuesday primary. Ellison will be hosting supporters on a golf outing at his home on...