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Top stories today:
- Oracle, OpenAI said to ink $300B, 4.5GW deal for compute power
- Larry Ellison briefly topped Elon as the worldās richest
- PsiQuantum raises $1B in largest round for quantum startup
- Klarna shares +15% in debut after $1.37B IPO
- Amazon said to be developing AR glasses to rival Meta
- Ant Group, Jack Ma-backed firm, showcases its 1st humanoid robot
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Oracle, OpenAI said to ink $300B, 4.5GW deal for compute power
Oracleās shares surged as much as 43% on Wed. before closing 36% higher ā their biggest jump since Dec. 1992:
2027: start of the Oracle-OpenAI deal.
Oracle is working with Crusoe and others as part of the deal.
Data centers are being explored in locations such as Wyoming, Pennsylvania, Texas, Michigan, and New Mexico.
The contract depends on ChatGPTās continued growth.
2. Larry Ellison briefly topped Elon as the worldās richest after his wealth jumped $101B
Oracleās shares are +97% YTD through Wed., while Tesla -14%.
Ellisonās fortune rose on Oracleās recent earnings report.
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4. PsiQuantum raises $1B in largest round for quantum startup, hitting $7B valuation
