New York, Sept. 10 — Oracle Corp. shares surged 35.95% on Wednesday, marking the company’s largest single-day gain in history, after strong cloud growth projections sent investors rushing to the stock. The rally boosted Oracle’s market capitalization by $244 billion to $922 billion, lifting the software giant five spots to become the 12th most valuable company worldwide.
The company also reported remaining performance obligations of $455 billion, up 359% from a year earlier, a figure analysts described as “stunning.” Market watchers said the numbers highlight Oracle’s accelerating transformation into a major force in cloud computing and artificial intelligence.
The rally delivered a windfall for co-founder Larry Ellison, who saw his net worth climb by $100 billion in a single day, briefly surpassing Elon Musk to become the world’s richest person, according to Bloomberg Billionaires Index.
With the global cloud infrastructure market expected to reach $144 billion by 2030, Oracle is increasingly seen as consolidating its position among the world’s leading tech titans.
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