Skip to main content

Slashdot: How Larry Ellison Dropped From World's 2nd-Richest To No. 8 In Just 2 Months

How Larry Ellison Dropped From World's 2nd-Richest To No. 8 In Just 2 Months
Published on 2026-08-15T20:50:00Z
Less than a year ago he was the #1 richest man in the world. 10 weeks ago he was #2. But yesterday Larry Ellison dropped to #8, Forbes reports, falling behind Nvidia CEO Jensen Huang. Ellison's net worth is now estimated at just $192.6 billion — after a $104 billion decline: Shares of Oracle plunged roughly 54% between hitting a high of just over $250 on June 1 to a low of $114.50 on July 28, though the stock rebounded slightly to $150.52 as of Friday. A decline followed Oracle telling investors it expected to raise $40 billion through debt and equity financing, with capital expenditures surging 162% to $55.7 billion and spending expected to top $95 billion by fiscal 2027. Jacob Bourne, an analyst at eMarketer, told Reuters there are broader concerns about how Oracle would fund its capital spending to match its revenue projections, and Bank of America analysts separately flagged in a note cautioning that more than 50% of Oracle's remaining performance obligation comes from OpenAI. Melius Research analysts wrote last month that Oracle's spending plans may not hold if OpenAI or Anthropic demands more computing capacity. S&P Global also downgraded Oracle's credit rating in July, arguing the firm's "rapidly expanding" AI infrastructure business could pay off, but may be too expensive and could weaken Oracle's financial position in the meantime. $443 billion. That's how much Oracle's market valuation has dropped since peaking at $877.1 billion in September, hitting $433.5 billion as of Friday... Oracle, once viewed as a potential winner of the booming AI infrastructure buildout, has since raised concerns among investors who appear to view the firm as taking on too much financial risk to fund its projects. Wall Street has cautioned that mega-cap tech firms may be taking on too much spending to match growing demand for AI products, with firms like Amazon expecting to spend more than $200 billion. Oracle's backlog has exploded to $638 billion, but more than half is reportedly associated with OpenAI, and some analysts have cautioned that most of those funds may not be guaranteed.

Read more of this story at Slashdot.

Labels:

Comments

Post a Comment

Popular posts from this blog

Slashdot: Spain-Backed Fund Joins FOSSA's Sovereign Satellite Communications Push

Spain-Backed Fund Joins FOSSA's Sovereign Satellite Communications Push Published on 2026-06-28T22:05:00Z Spanish startup FOSSA Systems "has raised about $10.5 million to expand its connectivity constellation," reports Space News, noting some funding is backed by Spain's government: The support from the Spanish Society for Technological Transformation (SETT) comes a year after the fund injected 14 million euros into Spain's Sateliot , which is also developing a satellite connectivity network with security and defense applications. Spanish private investment firm Kibo Ventures led FOSSA's funding round, the six-year-old venture announced June 24, bringing its total raised to date to nearly 20 million euros. The proceeds will help fuel FOSSA's push beyond the tiny picosatellites it once used to connect low-power monitoring devices toward larger cubesats in low Earth orbit, enabling additional sovereign communications and space-based intelligence capab...
Post a Comment
Read more

Slashdot: How the FSF Sysadmins are Blocking Botnets with reaction

How the FSF Sysadmins are Blocking Botnets with reaction Published on 2026-07-11T21:47:00Z For nearly two years the Free Software Foundation has been fighting web crawlers (including many aggressively scraping training data for AI models). A botnet controlling about five million IPs hit one system for six months in 2025. Their systems administrator wrote this week that they view these as distributed denial-of-service attacks. How are they fighting back? We noticed patterns in the scrapers that were abnormal, which gave us material for writing regular expressions. Searching for the regular expression then gave us a large lists of IP addresses. Looking up the origin of those IP addresses revealed that some of the crawlers were using botnets of residential IP addresses to scrape faster and avoid detection. We looked for what kinds of botnets might be generating the kind of traffic that we were seeing, and one that we suspected was called the "Vo1d" botnet, comprised of sma...
Post a Comment
Read more

Slashdot: AT&T Outlines $250 Billion US Investment Plan To Boost Infrastructure In AI Age

AT&T Outlines $250 Billion US Investment Plan To Boost Infrastructure In AI Age Published on 2026-03-10T20:00:00Z AT&T plans to invest more than $250 billion over the next five years to expand U.S. telecom infrastructure for the AI age. The company says it will also hire thousands of technicians while partnering with AST SpaceMobile to extend coverage to remote areas. Reuters reports: Rapid adoption of artificial intelligence, cloud computing and connected devices has prompted telecom operators to invest heavily in fiber and 5G networks as they also seek to fend off intensifying competition from cable broadband providers. AT&T, which has about 110,000 employees in the U.S., said the new hires will help build and maintain its infrastructure. The outlay includes capital expenditure and other spending, the company said. The spending will focus on expanding its fiber and wireless networks, including accelerating deployment of fiber broadband, 5G home internet and satellite co...
Post a Comment
Read more