00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Larry Ellison's net worth has fallen by $194 billion over the past year,
00:07as concerns about artificial intelligence weigh on Oracle shares.
00:11According to Bloomberg, Ellison's fortune now stands at $178 billion,
00:17making him the world's eighth richest person. Oracle shares have plunged 62% from their peak,
00:23wiping $550 billion from the company's market value.
00:27Investors remain concerned about Oracle's rising debt and its $300 billion deal with OpenAI.
00:34Its total debt has climbed to $169 billion from $88 billion early last year.
00:39However, Oracle reported a 30% revenue increase to $19.3 billion in its latest quarter,
00:46while cloud infrastructure revenue surged 121%.
00:49Analysts remain bullish, with an average price target of $252, representing 97% upside.
00:56For all things money, visit Benzinga.com.
