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☆ Why these Gulf states want to be AI superpowers
▼ + stars: | 2024-09-16 | by ( Nell Lewis | Rym Bendimerad | ) edition.cnn.com time to read: +5 min

“There’s huge investments going into (AI) in the Middle East,” said Stephen Anderson, Middle East strategy and markets leader at PwC, speaking to CNN at last week’s Global AI Summit (GAIN) in Riyadh, Saudi Arabia. Energy demand from AI, data centers and cryptocurrencies could double by 2026, according to the International Energy Agency. Gulf states are investing heavily in AI as they look to diversify their economies. Last year, the UAE unveiled a tool called Jais and Saudi Arabia has developed the Arabic chatbot ALLaM. Challenge of governanceOne of the major hurdles with the development of AI is public perception and governance: how should AI and data be regulated safely, securely, ethically and fairly?

Persons: “, ”, Stephen Anderson ,, Anderson, We’re, ” Anderson, Nick Studer, Oliver Wyman, Studer Organizations: CNN, United Arab Emirates, PwC, AI, Google, Energy, International Energy Agency, ”, Saudi, AI Authority, Oliver Wyman Group, International Telecommunication Union Locations: UAE, Stephen Anderson , Middle, Riyadh, Saudi Arabia, Qatar

☆ Larry Ellison becomes world's second-richest man, dethroning Jeff Bezos as Oracle stock surges
▼ + stars: | 2024-09-16 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Larry Ellison, chairman and co-founder of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on Oct. 1, 2017. Oracle shares surged more than 6% on Monday, continuing their recently rally and propelling Chairman Larry Ellison to become the world's second-richest person, snatching the title from Amazon founder Jeff Bezos. Bezos, who had been the second-richest person on and off since 2016, is worth $202 billion. The stock surge caused Ellison to briefly pass Bezos as the world's second-richest person on Friday, before the Amazon founder reclaimed the title. Oracle said last week that it would partner with Amazon's cloud computing unit to enable its database services on dedicated hardware.

Persons: Larry Ellison, Jeff Bezos, Forbes, Elon Musk, Ellison, Bezos, Oracle, — CNBC's Jordan Novet, Ari Levy Organizations: Oracle Corp, Oracle, Amazon, Microsoft, Google Locations: San Francisco

☆ Lightning Round: Nextera Energy can go higher, says Jim Cramer
▼ + stars: | 2024-09-16 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Nextera Energy can go higher, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Nextera Energy, Alight, Herbalife, Microsoft, and HPE.

Persons: Jim Cramer Organizations: Nextera Energy, Microsoft

☆ Cramer's Lightning Round: Herbalife is 'too controversial, too crazy'
▼ + stars: | 2024-09-16 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon NextEra Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Alight's year-to-date stock performance. Stock Chart Icon Stock chart icon Herbalife's year-to-date stock performance. Stock Chart Icon Stock chart icon Microsoft's year-to-date stock performance. Stock Chart Icon Stock chart icon Hewlett Packard's year-to-date stock performance.

Persons: NextEra, Hewlett, Hewlett Packard, Jim Cramer's Organizations: NextEra, Microsoft

☆ 'Living death' was my dad's nickname for office work. Now I'm in my 40s — and I can see why.
▼ + stars: | 2024-09-16 | by ( Ariel Sophia Bardi | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I'd spent carefree years bouncing around Kyrgyzstan and Lebanon, Sri Lanka and Mexico, India and Armenia. Advertisement"Living death," that's how my philosopher-slash-guitarist father had nicknamed office work. Author's view from hotel overlooking the Bay of Algiers Ariel Sophia BardiA freelance job helped me feel free againI needed to start living again. I make no comparison between their incredible courage and my own infinitely milder risks, which soon included drifting back to freelance work.

Persons: —, I'd, Trump, wasn't, Algiers Ariel Sophia Bardi, warbled, Rai, one's Organizations: Service, Business, Microsoft Locations: Algeria, Palms, Algiers, California, Kyrgyzstan, Lebanon, Sri Lanka, Mexico, India, Armenia, Oran

☆ How to tell if it's imposter syndrome or if you're just bad at your job, from the ex-VP of HR at Microsoft
▼ + stars: | 2024-09-16 | by ( Chris Williams | ) www.businessinsider.com time to read: +6 min

Read previewAs the former VP of HR at Microsoft and now an advisor to executives worldwide, I see imposter syndrome daily. Are you not very good at your job or is it just the imposter syndrome talking? How can you tell if your self-doubt — often that debilitating imposter syndrome — is justified? If you're getting good reviews, that almost always means you're doing good work. AdvertisementRereading your reviews can bolster your self-esteem and combat looming imposter syndrome.

Persons: —, Bill Gates, Steve Ballmer, I've, they're, wouldn't Organizations: Service, Microsoft, Business

Evercore ISI lowered its price target on Alphabet to $200 from $225 , citing antitrust worried. Analyst Atif Malik's $130 price target, up from $119, implies that the stock could rally 17% from here. The firm upgraded the software giant to a buy rating and hiked its price target to $210 from $155. The investing firm downgraded the online bank to neutral from buy and removed its $44 price target. — Lisa Kailai Han 5:49 a.m.: Evercore ISI trims Alphabet price target Alphabet's antitrust issues will limit upside going forward, according to Evercore ISI.

Persons: Atif, Malik, — Lisa Kailai Han, Ben Reitzes, Reitzes, BTIG, Vincent Caintic, Caintic, Lisa Kailai Han, KeyBanc, Justin Patterson, Patterson, GE Vernova, Julian Mitchell nodded, Mitchell, Mark Mahaney, Mahaney, Fred Imbert Organizations: CNBC, ISI, Barclays, GE Vernova, Citi, Oracle Melius Research, Oracle, Ally, Spotify, TAM, GE, General Electric, Electric Utilities, DOJ, Google, Microsoft, TAC Locations: Friday's, MI, United States, U.S

☆ I got my green card after working at Microsoft on an H-1B visa. The process was very painful, but I love the US and don't plan to leave.
▼ + stars: | 2024-09-16 | by ( Elle Hardy | ) www.businessinsider.com time to read: +7 min

I applied for a green card after working on my H-1B visa for a year. By this point, I had lived in the US for about six years and created a whole life here, but the green card process was very painful. The process makes life pretty horribleHaving a work visa and going through the green card process are privileges, but it is very hard to separate the emotional component. Luckily, Microsoft paid for the attorneys in the green card process, and no cost came out of my pocket. In 2022, I finally received my green card after three years.

Persons: —, Andres Pico, I'm, Lauryn Haas Organizations: Service, Business, ACT, University of South, of Hispanic Professional Engineers, Virginia Tech, Microsoft, Verizon, Deutsche Bank, Disney, Starbucks, lhaas Locations: Seattle, Manta, Ecuador, University of South Florida, Tampa

☆ Meta bans Russian state propaganda outlets
▼ + stars: | 2024-09-16 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +1 min

CNN —Meta, the parent company of Facebook and Instagram, announced Monday that it has banned Russian state media broadcaster RT and other Kremlin-controlled networks, alleging the outlets have engaged in deceptive influence operations and attempted to evade detection. “After careful consideration, we expanded our ongoing enforcement against Russian state media outlets. Rossiya Segodnya, RT and other related entities are now banned from our apps globally for foreign interference activity,” a Meta spokesperson said in a statement. Prior to Monday’s ban, RT had 7.2 million followers on Facebook and 1 million followers on Instagram. After the US Justice Department announcement, RT responded with mocking statements that did not address the specifics of the US allegations.

Persons: Tim Pool, Dave Rubin, Benny Johnson Organizations: CNN, Meta, Facebook, US Justice Department, Tenet Media, Trump, US, Department, Microsoft, Senate

☆ Bill Gates says this is how he’d start Microsoft again from scratch today: It's a 'fantastic opportunity'
▼ + stars: | 2024-09-16 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

If Bill Gates had to start all over again, he'd join the artificial intelligence arms race with an "AI-centric" startup, he says. "Today, somebody could raise billions of dollars for a new AI company [that's just] a few sketch ideas," the billionaire Microsoft co-founder tells CNBC Make It. Gates researched the AI industry for his upcoming Netflix docuseries "What's Next? But AI will be transformative enough as it grows for any new tech startup to consider how it can fit into that industry, Gates says. "I was lucky that my belief in software made me unique," says Gates, adding: "Just believing in AI, that's not very unique.

Persons: Bill Gates, he'd, Gates, Allen, that's Organizations: Microsoft, CNBC, Google, Nvidia, Netflix, CNN

☆ Saudi Arabia just stepped up plans to court the world's AI leaders to its desert kingdom
▼ + stars: | 2024-09-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

In recent months, Saudi Arabia has hosted a flurry of high-profile events, leaders, and dealmaking from the AI world. This year's showcase featured speakers from top AI companies in the West, such as Nvidia, Qualcomm, Google, Microsoft, and OpenAI rival Cohere. Saudi Aramco is working with AI startup Groq to build a new data center in Saudi Arabia. For Saudi Arabia, AI doesn't just present the chance to bet big on tech's latest hype train. Saudi Arabia generated a similar amount of hype around its AI ambitions in March when it held its LEAP conference.

Persons: —, Mohammed bin Salman, Cohere, Saudi Aramco —, Hamad, Mohammed Groq, Groq, Jonathan Ross, doesn't, Adam Selipsky, Arvind Krishna, Abdullah Alswaha, PIF, A16z, Marc Andreessen, Ben Horowitz Organizations: Service, Saudi Arabia's, Business, Global AI, Nvidia, Qualcomm, Google, Microsoft, BlackRock, Cisco, Public Investment Fund, Amazon Web, IBM, Saudi, New York Times, Silicon Locations: Saudi Arabia, Saudi Aramco, Bay

☆ Inside Amazon's new AI sales machine: More pressure, more pay, more speed
▼ + stars: | 2024-09-16 | by ( Eugene Kim | ) www.businessinsider.com time to read: +11 min

AdvertisementThese AWS staffers were asked to find at least one sales opportunity each month for Q, Amazon's AI assistant, and Bedrock, the company's AI platform. AdvertisementMany AWS sales teams have new performance targets tied to AI products. AdvertisementHitting these goals is important for Amazon employees because that can result in higher performance ratings, a key factor in getting a raise or promotion. The "Find One, Launch One, Ramp One" initiative includes AWS sales architects. More pressure but also more rewardsAmazon is also doling out bonuses and other forms of potentially higher pay for AI sales success.

Persons: —, Matt Garman, salespeople, AWS's, Garman, Microsoft Satya Nadella, Justin Sullivan, Q, hasn't Organizations: Service, North, Business, AWS, Messaging, Amazon, Microsoft, Google, BI, there's, Amazon Connect Locations: North America

☆ OpenAI announces new independent board oversight committee focused on safety
▼ + stars: | 2024-09-16 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

OpenAI on Monday said its Safety and Security Committee, which the company introduced in May as it dealt with controversy over security processes, will become an independent board oversight committee. Other members include Adam D'Angelo, an OpenAI board member and co-founder of Quora, former NSA chief and board member Paul Nakasone, and Nicole Seligman, former executive vice president at Sony. The committee will oversee "the safety and security processes guiding OpenAI's model deployment and development," the company said. The company said the committee "reviewed the safety and security criteria that OpenAI used to assess OpenAI o1's fitness for launch," as well as safety evaluation results. Leike wrote in a post on X that OpenAI's "safety culture and processes have taken a backseat to shiny products."

Persons: Sam Altman, OpenAI, Zico Kolter, Adam D'Angelo, Quora, Paul Nakasone, Nicole Seligman, it's, Ilya Sutskever, Jan Leike, Leike Organizations: Microsoft, Security Committee, Carnegie Mellon University's, NSA, Sony, Tiger Global, Nvidia, Apple, OpenAI o1, Democratic Locations: Redmond , Washington, OpenAI

☆ Trump and Harris are both fans of solar power. That's good news for these 4 stocks.
▼ + stars: | 2024-09-15 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

During the recent debate, both Vice President Kamala Harris and former President Donald Trump expressed their support for solar energy. Trump said he was a "big fan" of solar power, and Harris doubled down on her support for clean energy. Trump caveated his support of solar power, saying that solar plants take up "400, 500 acres of desert soil." AdvertisementInvesting in solarFor investors interested in increasing their exposure to solar energy solutions, Baker shares the following 4 investments. These companies provide solar power offerings across the entire renewable energy value chain.

Persons: Kamala Harris, Donald Trump, Trump, Harris, Graeme Baker, Baker, David Bianco, she'll, Biden, He's Organizations: Service, Business, Environment, Big Tech, Microsoft, Green, Deal, Environment Fund

☆ How I'm approaching the stock market after its wild reversal to start September
▼ + stars: | 2024-09-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

The week before, Broadcom had allegedly disappointed, causing Nvidia , the inevitable key to this market, to continue its descent. Which brings me back to the initial concept of the big declining week followed by the big advancing week. A good week for Kamala Harris turns out to be a big week for Nextracker — and that's really it for now. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Larry Ellison, Ellison, Cerner, Ellison's, Eaton, Jensen, Bing, Microsoft's Bing, underinvesting, Huang, Blackwell, Dupont, Kamala Harris, Nextracker, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nasdaq, Federal, Broadcom, Nvidia, Oracle, Marvell, Meta, Microsoft, Google, mightily, Street, Fed, Dreamforce, downer, Adobe, JPMorgan, Healthcare, pharma, Jim Cramer's Charitable, CNBC Locations: Silicon Valley, San Francisco

☆ Oracle gave a glimpse of the power AI has on its business. Where investors should look next
▼ + stars: | 2024-09-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

For the past three years, software stocks have suffered as revenue growth softened, and investors remain skeptical about when it will return. For Oracle, that's its cloud infrastructure — a service that has improved Oracle's fundamental growth story, Walravens argued. This strategic move positioned Oracle as a key player in AI, fueling growth in its infrastructure as a services (IaaS) business. Oracle Cloud Infrastructure is central to this growth, offering a suite of services for AI-driven workloads. SAP YTD mountain SAP stock performance year-to-date.

Persons: Raimo Lenschow, Pat Walravens, Walravens, Bernstein, Mark Moerdler, tailwinds, Goldman Sachs, Amy Hood, it's, Keith Bachman, Bachman Organizations: Oracle, Nvidia, Barclays, Investors, Software, Services, Microsoft, SAP, Citizens, CNBC, Google, Oracle Cloud Infrastructure, Microsoft Microsoft, AI Services, Wall, BMO

☆ Sam Altman may be in his villain era, but no one seems to care
▼ + stars: | 2024-09-14 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

As one VC partner told Business Insider at the time: "Sam is bigger than Taylor Swift." But the bigger you are, the faster the fall, and a few months later, things began to unravel. Others simply said Altman was overhyped, that he didn't have all the answers that the public and investors seemed to expect of him. Thanks to good old-fashioned capitalism, Altman and OpenAI have enjoyed business win after win and held their positions as the leaders in the aggressive AI race. "I thought Sam Altman did a really good job in the special," she told The Washington Post in a discussion about her TV program on artificial intelligence.

Persons: —, Sam Altman, Taylor Swift, Altman, Oscar, Scarlett Johansson, Johansson, Ilya Sutskever, Jan Leike, Leike, Anthropic —, Greg Brockman, OpenAI, Siri, Goldman Sachs, OpenAI fanboys, Wharton, Ethan Mollick, Anderson Cooper, Josh Kushner —, Oprah Winfrey Organizations: Service, OpenAI, Business, —, Leike, Apple, Microsoft, Nvidia, tech's, o1, Washington Locations: OpenAI —, Valley

☆ Nvidia CEO Jensen Huang revived the AI trade this week. Here's how the pros are playing it
▼ + stars: | 2024-09-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Recent comments from Nvidia CEO Jensen Huang seemed to revive investment in the turbulent AI sector this week, while leading portfolio managers to recenter attention on the winning trades. Nvidia shares rallied more than 8% on the heels of Huang's remarks, which soothed some recent market jitters over the delayed payoff from AI investments. For the week, AI and semiconductor names such as Advanced Micro Devices, Marvell Technology, Super Micro Computer and Broadcom rallied double digits. NVDA 1M mountain Nvidia shares over the past month. Longer term, he views Apple as the leading AI device play and AI personal assistant, especially as more consumers adopt its Vision Pro headset.

Persons: Jensen Huang, We're, Huang, Goldman Sachs, Huang's, Jensen, John Belton, CFRA's Angelo, Apple, Zino isn't, Belton, Mark Malek Organizations: Nvidia, Technology, Devices, Marvell Technology, Micro Computer, Broadcom, Gabelli, Taiwan Semiconductor Manufacturing, Meta, Micron Technology, Apple Intelligence, Dell, Materials, KLA Corporation, Microsoft

☆ We ranked the latest earnings reports from 30 portfolio stocks from great to ugly
▼ + stars: | 2024-09-14 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The company may have maintained its full-year revenue outlook, but that was taken as good enough after last quarter's debacle. Management also provided a better-than-expected sales, earnings, and recurring revenue outlook. The Good Abbott Laboratories : Sales, earnings and organic growth all exceeded analyst estimates. Broadcom : Sales and earnings outpaced expectations , driven by strong sales of its AI products and VMware software. Alphabet : Delivered largely better-than expected earnings results that showed the search and cloud giant is finally on better footing in the fast-growing AI space.

Persons: we've, Lisa Su, —, Eli Lilly, Zepbound, Stanley Black, Stanley, Morgan Stanley, Procter, Jim Cramer's, Jim Cramer, Jim, Steve Marcus Organizations: Costco, DuPont, Club, Management, Nvidia, Palo Alto Networks, Good Abbott Laboratories, Broadcom, VMware, Wealth Management, Investment Management, Microsoft, Constellation Brands, TJX, Amazon Web Services, Coterra Energy, GE Healthcare, Honeywell, Gamble, Jim Cramer's Charitable, CNBC, AMD Locations: China, Covid, Dover, Eaton, Palo, North America, GEHC, Wells Fargo, Las Vegas , Nevada, U.S

☆ Thematic tech ETF investing may have selective use case, experts say
▼ + stars: | 2024-09-14 | by ( Anna Gleason | ) www.cnbc.com time to read: +1 min

Even with recent rotation away from megacap tech stocks, there may still be a case for investing in thematic tech exchange-traded funds. Roundhill Investments runs the Roundhill Generative AI & Technology ETF (CHAT), which is up 13.8% year to date as of Friday's market close. But despite recent volatility in the group, the firm's CEO Dave Mazza thinks the investment thesis is still intact. Pointing to some of CHAT's under-the-radar artificial intelligence plays, Mazza waived off concerns that thematic ETFs may be too narrow in scope. "There are companies like Dell in the portfolio and others, ServiceNow and Salesforce , who are using AI and integrating AI," he said.

Persons: Dave Mazza, CNBC's, Mazza Organizations: Roundhill Investments, Technology, Nvidia, Microsoft, Dell Locations: CHAT's

The Justice Department plans to file criminal charges in the hacking of Donald Trump’s presidential campaign, two law enforcement officials told NBC News. The Trump campaign announced in August that it had been hacked. Later that month, federal officials said that Iran was behind the effort, which was part of an apparent hack-and-leak operation to spread files stolen from Trump’s campaign. Federal officials reiterated in a press call last week that the U.S. intelligence community believes Iran wants to hurt former President Trump’s campaign, whereas Russia wants to boost Trump over Vice President Kamala Harris. Google was more specific, and said that the hackers had gone after both the Trump campaign and President Joe Biden’s before he dropped out of the race.

Persons: Donald Trump’s, Trump, Robert ”, United Nations didn’t, “ Robert, ”, Trump’s, Kamala Harris, Joe Biden’s Organizations: Department, NBC News, America, United Nations, Washington Post, NBC, Trump, The Justice Department, RT, Islamic Revolutionary Guard Corps, Microsoft, Google, Trump militia Locations: Iran, Russia, Russian, Tehran

☆ Oracle breathes new life into the AI trade. Here are two related stock plays
▼ + stars: | 2024-09-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

"When you have a new deal, it smashes the stock," Jim said. We are not surprised the transaction pushed the stock lower so it doesn't impact our investment thesis. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, That's, that's, Eaton, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, Microsoft, Apple, GE Healthcare, GE Aerospace, Oracle, Nvidia, Boeing, Halliburton, Uber Locations: GEHC, Dover

☆ Cramer: I wouldn't boot any of our 12 core stocks. If anything, I'd add one more
▼ + stars: | 2024-09-13 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

The 12 core Investing Club portfolio stocks that we identified at our Annual Meeting in February are the 12 we still stand by. Wells Fargo Why we own it We bought Wells Fargo as a turnaround story under CEO Charlie Scharf. Why we own it GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions in health care. Fed interest rate cuts can also help hospitals finance the MRI and CT scan machines that GE Healthcare is known for. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Eli Lilly, Jim, Wells, Charlie Scharf, He's, Scharf, Wells Fargo, Lilly, Jim Cramer's Organizations: Apple, Costco, GE Healthcare, Linde, Microsoft, Nvidia, TJX Companies, Bank of America, Citigroup, GE, General Electric, Philips, Siemens, Jim Cramer's Charitable, CNBC Locations: Danaher, Eaton, Wells Fargo

☆ To pop or not to pop: the smart way to invest in AI without worrying about the bubble
▼ + stars: | 2024-09-13 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

It's also common to draw parallels between the dot-com bubble and today's hype, leading investors to wonder if there's an AI bubble that's about to pop, too. Goldman Sachs' big AI headline of the month is "To buy, or not to buy, that is the question." The note from September 5, led by Peter Oppenheimer, suggests the answer is "to buy" but also to diversify. And the third is the application providers, which are the companies creating services for end users to harness AI. It comes from machine learning or big data workloads that various companies and governments use, Belton noted.

Persons: —, Goldman Sachs, Peter Oppenheimer, John Belton, doesn't, Brian Colello, Nancy Tengler, that's, it's, Tengler, Wall, Larry Ellison, Colello, Belton Organizations: Service, Business, Gabelli Funds, Morningstar Equity Research, Investments, Nvidia, Companies, Microsoft, Intel, Oracle, IBM, Broadcom, AMD, Cadence Design Systems, Google, AWS, Eaton Corporation Locations: GenAI, Belton

☆ Oracle's Larry Ellison briefly tops Jeff Bezos to become world's second-richest person
▼ + stars: | 2024-09-13 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Oracle 's best week on the stock market since 2021 has bolstered Chairman Larry Ellison's net worth, briefly edging him past Amazon founder Jeff Bezos on Friday to become the world's second-richest person. Ellison's net worth reached $208.4 billion shortly after the market open, then fell to $199 billion, according to Forbes' real-time billionaires list. Bezos, who has claimed the title of world's second-richest person on and off over the years, is worth $205 billion. Bezos, 60, and Ellison, 80, are jockeying for the title of world's second-richest person three days after their companies forged a new partnership. "With Oracle Database to be able to run AWS, Microsoft and Google, is incredibly important," Ellison said on the call.

Persons: Larry Ellison's, Jeff Bezos, Forbes, Elon Musk, Ellison, Oracle, Jordan Novet, Ari Levy Organizations: Amazon, Oracle, Nvidia, Microsoft, Google Locations: Las Vegas

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