Oracle co-founder Larry Ellison believes the real breakthrough for AI will come from inference, which has potential in fields from robotics to drug design.

The software giant missed expectations in its latest quarterly report, but it forecast huge gains in cloud-infrastructure revenue. Oracle revealed it added $317 billion in future contract revenue during its latest quarter. Chief Executive Safra Catz told analysts that it had signed contracts with three different customers during the quarter.

Oracle stock hit a record high on Wednesday with a historic one-day rally of 43 percent that followed its blowout earnings results. Founder Larry Ellison added more than $107 billion in net worth the same day, making him the richest person in the world with nearly $400 billion, eking by Elon Musk.

Larry Ellison briefly became the world’s richest man after Oracle shares spiked nearly 40%. But analysts warn the AI-driven surge may echo the dot-com bubble, leaving markets vulnerable if the rally falters.

Oracle stock surged on Wednesday morning, boosting the value of Larry Ellison's stake by tens of billions.

The world’s largest startup needs more paying users to help finance its ambitions, but researchers and consultants aren’t sure they will materialize soon.

It’s no surprise that this exceptional guidance caused shares of Nvidia, Broadcom, and AMD to climb between 2% and 10%, as these chip manufacturers form

For Oracle’s recent rally to make sense, the company will have to approach Nvidia’s unprecedented run of success.

The software giant is expected to double its revenue in three years, but its future now fully hinges on the AI splurge.