Last week, Oracle surprised Wall Street with a massive $300 billion deal with OpenAI , a five-year deal that helped send Oracle’s stock soaring—and brought simmering fears of an ‘AI bubble’ back to the surface.

Oracle shocked analysts in its latest quarterly earnings call with revenue projections that cited $455 billion in contracts, up 359% from a year earlier. The optimistic forward-looking numbers caused the company’s stock to jump 36% on Wednesday , the company’s biggest one-day increase ever, and briefly made CEO Larry Ellison the richest man in the world.

Part of the reason Oracle was able to strike the deal with OpenAI at all is due to Ellison’s courting of Nvidia CEO Jensen Huang, which has allowed his company, despite previously trailing behind other cloud providers, t

See Full Page