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Oracle’s Late AI Bet Sends Shares Soaring, Ellison Tops Musk as World’s Richest Man

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In brief

  • Oracle’s AI pivot pays off: Shares surged over 30% as the company projected $455 billion in booked future revenue and faster cloud growth.
  • Oracle’s neutral AI stance and ability to run models like ChatGPT inside its database stack drew major enterprise demand.
  • Founder Larry Ellison’s fortune swelled by nearly $100 billion, making him the world’s richest person.

Oracle Corp. stock rocketed as much as 40% in intraday trading—a rally so dramatic, it appears to have set a record for any company valued north of $500 billion. The trigger? A bold AI strategy finally paying off.

At the heart of today’s fireworks is Oracle’s up-close-and-personal pivot into artificial intelligence infrastructure. The company revealed that its Oracle Cloud Infrastructure (OCI) business now expects massive revenue growth: CEO Safra Catz said OCI revenue is expected to reach $18 billion in the current fiscal year, then grow to $32 billion in fiscal year 2027, and eventually $144 billion in the following three years.

But numbers alone don’t explain the thrill. The real signal: a massive pipeline of future business. Oracle’s “remaining performance obligations”—essentially what’s been booked but not yet recognized—soared 359% year-over-year to $455 billion, verging on a half-trillion-dollar backlog, the company reported.



CEO Safra Catz didn’t hide the enthusiasm, stating that most of the multiyear growth is already locked in, and more multibillion-dollar contracts are expected in the coming months.

“Over the next few months, we expect to sign-up several additional multi-billion-dollar customers, and RPO is likely to exceed half-a-trillion dollars,” said CEO Safra Catz.

AI is not just a buzzword—it’s infrastructure

Oracle’s AI attractiveness comes from its strategic alliances and neutral positioning in the AI arms race. It’s part of Stargate, a massive infrastructure initiative with OpenAI and SoftBank, giving Oracle preferred status as a compute-provider-of-choice.

Crucially, Oracle claims to offer AI inferencing capabilities, running models like ChatGPT, Gemini, and Grok directly within its database stack, a convenience hyperscalers have yet to match. That unique positioning—neutral, integrated, and AI-enabled—has turned once-lagging Oracle into a major contender in AI infrastructure.

The ripple effect

In one of those rare moments where investor glee merges with spectacle, Larry Ellison vaulted past Elon Musk to become the world’s richest person, thanks to the stock surge. His net worth swelled by around $100 billion to roughly $393–400 billion.

Not everyone’s as ecstatic as Mrs. Ellison: Analysts caution the aggressive capex—Oracle expects to spend $35 billion to build data-center and supply AI chips—could dent free-cash-flow in the near term and pressure margins.

AI was the marquee act, but Oracle also highlighted four multibillion-dollar contracts with three different customers in its latest quarter. That helped lift first-quarter revenue by 12% to $14.93 billion, including a 28% jump in cloud revenue to $7.2 billion.

Analysts at Piper Sandler and Bank of America weren’t shy either, raising price targets and upgrading the stock—noting the AI-driven backlog as “too strong to be summed up simply as a blow-out.”

The bottom line

Oracle’s AI pivot has become an investor tidal wave, backed by real contracts, locked-in backlog, and infrastructure ambitions that others can’t match—at least right now.

Whether the swell leads to a sea change or tidal recession depends on execution. But for now, Oracle has Wall Street enthralled, and its AI story is delivering more than just talking points—it’s delivering stock market fireworks. And if that’s not a mixed metaphor, then nothing is.

Generally Intelligent Newsletter

A weekly AI journey narrated by Gen, a generative AI model.



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Late Nintendo president Satoru Iwata laughed at the prospect of localising the original Animal Crossing
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Late Nintendo president Satoru Iwata laughed at the prospect of localising the original Animal Crossing

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Late Nintendo president Satoru Iwata laughed at the prospect of localising the original Animal Crossing, as he believed the game was so specific to Japan it would be too difficult.


In an interview with Time Extension, former Nintendo localisation manager Leslie Swan discussed some of the challenges of the job, citing the original Animal Crossing – first released in Japan on N64 as Animal Forest, before a localised version was released in America on the GameCube – as a particularly tricky project.


Nintendo’s Takashi Tezuka, who worked as a producer on Animal Crossing, asked Swan to localise the game. She agreed, despite not playing the game herself in advance as she usually would. “But then he said, ‘No, Leslie, I’m not sure you understand, it’s going to be difficult’,” she said. “And I kept having to assure him that we would make it happen.”


She continued: “Then like a month or two later, I was in a meeting with Mr. Iwata and some other heads of the development group, and we were just kind of going around saying, ‘Here’s what we’re going to be working on’, and I just said, ‘Well, Mr. Tezuka is asking us to work on Animal Forest’ and he just burst out in laughter. He just laughed and said, ‘I don’t know how you’re going to do this.’ And it’s true, just everything in that game was so specific to Japan.”


The localisation team had to rename every character, every catchphrase, and all the events, Swan explained. “So we wanted whatever it was to be something that would be useful in as many areas as possible so we would do things like call it ‘Fireworks Day’ or something so other cultures, not just the US, would be able to use it without it being tied to Independence Day,” she said.


“Then there were also some items that didn’t make sense at all. They would have so much charm in the Japanese version, but they wouldn’t have provided the same kind of charm for Western audiences. I can’t tell you the number of hours we spent on that game, all hands on deck. We were so lucky at that point that we didn’t have other big projects, as we pretty much had the entire staff dedicated to that game.”


In addition, the legal department had to clear every name, as the team were sure merchandise would be an option if the game sold well.


“It must have been at least six months or maybe a year for us to clear the name Animal Crossing,” Swan continued. “I remember we had so many other names that we were in love with and then we would be crushed when they would be rejected. My favourite was ‘Animal Acres’, because the grids of the town lent themselves to being called acres. But again, that didn’t clear.”


Hundreds of names were considered, before finalising Animal Crossing. “We really wanted to maintain ‘Animal’ in the name,” said Swan. “And we did try to keep ‘Forest’ in the name too, but legal told us, ‘No, that’s not going to happen’.”


Swan was also the voice of Princess Peach in Super Mario 64, in addition to working in the localisation team and on Nintendo Power. Eventually, she left Nintendo and retired in 2016.


“I have to say, I was so lucky to be able to work at Nintendo,” she reflected. “It was a lot of work. It was a lot of stress. But one of the things that kept me there as long as I stayed was I just felt like I was learning something new with every single product we worked on. There was new technology and there was always something new to be learned, and the teams I worked with were just so energetic. The whole of the company was just oozing energy. It felt like such a family.”

This is a news-in-brief story. This is part of our vision to bring you all the big news as part of a daily live report.



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The GENIUS Act is too little, too late for US crypto
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The GENIUS Act is too little, too late for US crypto

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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

Trump’s GENIUS Act is in the hot seat of global crypto news, and everyone’s got an opinion on what it might mean for U.S. DeFi. For me, at least, while it’s certainly a good step forward, Trump’s move will simply not be enough to topple the UAE from the crypto throne. Regardless of this new legislation, the UAE will forever be the industry’s heavyweight champion.

Summary

  • GENIUS Act ensures stablecoin backing, AML compliance, and consumer protection, yet won’t kick in until mid-2026 and leaves most digital assets untouched.
  • UAE set the pace years ago, with FSRA (2018) and VARA (2022), plus tailored licensing, custody rules, and fraud prevention, the UAE built a mature crypto framework while the U.S. lagged.
  • The UAE’s Digital Dirham and zero-tax regime make it a magnet for investors, while the U.S. bans CBDCs and burdens crypto with high taxes.
  • Innovation follows capital — With 500+ crypto startups, record FDI, and OKX choosing it for retail derivatives, the UAE has cemented itself as the world’s crypto hub — far ahead of the U.S.

Now, don’t get me wrong, the GENIUS Act is certainly a positive, proactive piece of crypto policymaking from the U.S. government. It will ensure that stablecoins are pegged one-for-one by their respective assets, treat issuers — like Tether (USDT) — as financial institutions under the Bank Secrecy Act, and provide stronger consumer protection by holding issuers to a higher standard of anti-money laundering compliance.

It’s just not enough 

The legislation, signed last month, only addresses stablecoins — not digital assets as a whole. Plus, it won’t take effect until at least mid-2026, as regulators still need time to craft the necessary rules for implementation. Even with it, the fact is that the country will still be a far cry away from the “crypto capital of the world” that President Trump promised.

Realistically, if the U.S. ever had any hope of taking the UAE’s crown, it needed to be quicker out of the blocks. GENIUS is too little, too late, and there are a few reasons why. 

For a start, the UAE began refining its crypto regulation as early as 2018, with the establishment of Abu Dhabi’s Financial Services Regulatory Authority (FSRA). Dubai then established the Virtual Assets Regulatory Authority (VARA) in 2022. All in all, the region offers a mature regulatory infrastructure that provides bespoke licensing, trading, custody oversight, and fraud prevention for crypto. The GENIUS Act may be the United States’ first landmark crypto regulation, but, frankly, it’s seven years too late to compete.

Then there’s the fact that the Central Bank is launching its own CBDC — the Digital Dirham — which will be supported by all financial institutions registered in the UAE as soon as 2026. For me, the jury is out on the efficacy of CBDCs, but nonetheless, the UAE is going beyond simply accepting digital currency to making it a pillar of its economy. 

The U.S., on the other hand, has gone in the complete opposite direction — Trump has signed an executive order preventing federal agencies from issuing or endorsing central bank digital currencies. So, it’s not just a feeling that the U.S. is light-years behind — the fact is that the U.S. has actively positioned itself against some developments in the decentralized finance space.

Of course, there is also another — and perhaps more obvious — nail in the coffin for the U.S.’s crypto ambitions. Tax. 

The UAE imposes zero tax on income and capital gains made from crypto, which is, by all means, an attractive incentive. Compared to high-tax jurisdictions like the EU and the U.S., it’s an obvious top choice for investment activity. Put simply, instead of turning away from crypto activity and investment, the country is actively encouraging it.

In light of the above, it’s clear why the UAE has become the perfect incubator for DeFi innovation. And where investment goes, innovation follows.

OKX, the world’s second-largest cryptocurrency exchange, is underway with launching regulated crypto derivatives for retail investors in the region, where access was previously gatekept for professionals. OKX’s choice of the UAE as its launchpad only reinforces the country’s position as a superior crypto market. OKX and its people have been drawn to the UAE by its mature infrastructure, clear regulatory environment, and consistent innovation.

Of course, the UAE is well incentivized to keep a tight hold on its title as crypto’s first-choice market. The country is home to an astronomical 516 crypto startups and over 1,000 blockchain tech startups. Plus, the country’s foreign direct investment is at an all-time high after bringing in a record-breaking AED 167.6 billion in capital inflows in 2024 — making it the world’s 10th largest recipient of FDI. Considering everything, I can’t imagine the UAE’s conveyor belt of crypto-positive regulations will slow down anytime soon.

If the U.S. is still aspiring to become the world’s pre-eminent crypto superpower, it’ll need to fight tooth and nail. But as things stand, their latest legislation isn’t timely or mighty enough to get them over the line.

Perhaps FDI is why the UAE’s government has thrown its full support behind DeFi advancements, or maybe it’s that the UAE already has the highest Bitcoin (BTC) ownership rate worldwide. Either way, with its regulatory, innovation, and tax benefits, the country has pulled far ahead — and I don’t see any other international market bridging the gap any time soon.

Fiorenzo Manganiello

Fiorenzo Manganiello is the co-founder and managing partner of investment firm LIAN Group. At LIAN Group, he has built and funded many successful technology companies across cryptocurrency, blockchain, digital infrastructure, and healthcare. Outside of the day-to-day of LIAN Group, Manganiello is an enthusiastic art collector and is particularly interested in contemporary and digital art. He is also a professor of blockchain technologies at Geneva Business School. 

 



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XRP
Crypto Trends

American Rap Star Shouts Out XRP During Performance, Says It’s Not Too Late To Buy

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A video clip from a Detroit event has been stirring discussion across social media platforms, showing Grammy-nominated rapper Big Sean urging his audience to take a chance on cryptocurrencies. The moment occurred at the Stand With Crypto event in Michigan for its digital asset community, where Big Sean delivered an energetic show. 

However, a call from Big Sean himself to invest in Bitcoin, Ethereum, and Ripple captured even more attention among attendees.

A Clear Message From American Rap Star Big Sean

The video, now making rounds on X, TikTok, Instagram, and YouTube, shows Big Sean addressing the crowd in direct terms. “It’s not too late. Invest in crypto right now. Tonight, if you can. Do that tonight; you’re going to get a return from it. Bitcoin is a good one, Ethereum, Ripple. Invest in that shit, I’m telling y’all right now. This is a free flip. Do it tonight; it’s about to go up,” he said. 

His words drew loud reactions from the audience, many of whom cheered as he listed the leading cryptocurrencies. The event was mostly filled with crypto investors, and attendees explored an NFT gallery and enjoyed the crypto carnival. 

Ripple’s mention on stage stood out because XRP has long been tied to financial institutions, central banks, and cross-border payment systems rather than hype and music culture. Hearing its name echoed from a Detroit stage by a mainstream artist shows just how much the XRP price has grown in recent months. 

Many XRP proponents can argue that the cryptocurrency now belongs in the same conversation as Bitcoin and Ethereum, particularly after its rise in recent months to secure the position of the third-largest cryptocurrency by market capitalization

What may have started as a normal statement from Big Sean quickly grew into one of the most shared moments from the entire event. This shows the type of influence celebrity endorsements have on crypto adoption.

Trend Of Celebrity Crypto Advocacy

Celebrity entertainers and athletes have steadily ventured into the world of cryptocurrency over the past decade. Notably, the movement reached its peak during the 2021 bull run when countless celebrities aligned themselves with cryptocurrencies and NFTs.

Although the wave of crypto projects endorsed by celebrities has slowed down in the current market cycle, high-profile endorsements are still influential. Particularly, the launch of Donald and Melania Trump meme coins provides the best examples of how far digital assets have reached. 

Another notable example is Elon Musk, who is known for his comments on social media endorsing multiple cryptocurrencies. Adding to this mix is Kanye West, who recently entered the sector by launching his own official meme coin called YZY. This has seen a mix of reactions from crypto investors, with some critics calling it another celebrity-backed gimmick.

At the time of writing, XRP is trading at $3.

XRP trading at $2.99 on the 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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