Oracle’s stock jumped in value more than 40% on Wednesday, lifting the company’s share price to a record high and placing the company in striking distance of a trillion-dollar market value. The surge also sent Oracle co-founder Larry Ellison’s wealth soaring, narrowing the gap between him and Elon Musk in the contest to be the world’s richest person.
The price rise followed Oracle’s disclosure of four multi-billion-dollar contracts tied to the demand for computing power in artificial intelligence. Companies training and running…
