00:00Oracle co-founder Larry Ellison became the world's richest person Wednesday after a surge in Oracle stock pushed his net worth to $393 billion, surpassing Elon Musk.
00:13The boost came on the heels of a blockbuster earnings report fueled by massive AI-related orders, while Tesla shares have fallen 14% this year.
00:24Depending on the valuation method, some trackers like Forbes still have Musk on top, but Ellison's gain highlights the staggering scale of his fortune, enough to fund the entire population of Florida for a year at median U.S. income.
00:40OpenAI has reportedly committed to spending a staggering $300 billion on Oracle's cloud services over five years, starting in 2027, one of the largest deals in tech history.
00:55The news sent Oracle's stock soaring on Wednesday, helping co-founder Larry Ellison leapfrog Elon Musk to become the world's richest person.
01:04While the deal underscores massive demand for AI infrastructure, it also raises eyebrows amid growing fears of an overheated AI market.
01:13Clarna's shares jumped 15% in their NYSE debut on Wednesday, closing at just above $45 a share after pricing at $40, raising $1.37 billion for the company and its shareholders.
01:28The buy now, pay later giant is expanding into U.S. banking with a debit card and personal accounts, already attracting 700,000 cardholders and a 5 million person wait list.
01:41As Clarna steps into public markets, it faces both competition from rivals like Affirm and Afterpay and potential regulatory scrutiny in the United Kingdom, where new rules for buy now, pay later loans are being considered.
01:57Novo Nordisk is laying off 9,000 employees, about 11% of its global workforce, as it faces intense competition in the booming weight loss drug market.
02:08The move comes as a new CEO is just months into the role and tries to reposition the company after a 60% stock drop and growing dominance from Eli Lilly's Manjaro and ZepBomb.
02:21The cuts highlight significant momentum in the industry, with rivals proving faster and more efficient in scaling production and innovation.
02:29Pokemon cards aren't just a nostalgic hobby, they've quietly become one of the best-performing investments of the past two decades, beating the likes of Meta and the S&P 500.
02:42Interest in the colorful collectibles exploded during the pandemic and has remained strong, attracting both childhood fans and serious investors.
02:51So before tossing out that old shoebox, you may want to check it, there could be a goldmine hiding in your closet.
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