Latest AI News

Oracle shares surged over 40% following major AI contracts with OpenAI, Meta, and NVIDIA, approaching a $1 trillion valuation. The company secured a five-year, $300 billion cloud deal with OpenAI and reported its contract backlog increasing to $455 billion. Oracle projects 77% growth in OCI revenue this year, with ambitious five-year targets reaching $144 billion by FY30. CEO Safra Catz announced a 359% surge in Remaining Performance Obligations. Co-founder Larry Ellison's net worth briefly surpassed Elon Musk's during trading. The company balances growth with sustainability investments as it positions itself as a major player in the multi-trillion-dollar AI market.

Albania has appointed an AI bot called Diella as a "minister" to fight corruption in public procurement. Prime Minister Edi Rama announced this groundbreaking move, making Diella the first AI cabinet member. Initially launched as an assistant on e-Albania, Diella will now manage all government tenders, being immune to bribes or favoritism. The government hopes this will support Albania's EU membership goals by 2030. While officials are optimistic about eliminating corruption through AI, public skepticism remains about the bot's effectiveness and the lack of transparency regarding human oversight.

Oracle is experiencing a historic stock surge, with shares jumping over 40%, pushing it toward trillion-dollar market capitalization. This growth is driven by massive AI cloud contracts with OpenAI, Meta, NVIDIA, and xAI, increasing Oracle's backlog from $130 billion to $455 billion. Cloud Infrastructure revenue is projected to grow 77% this fiscal year, with the company expecting $18 billion in cloud revenue by 2025 and $144 billion by 2030. OpenAI alone has reportedly committed $300 billion over five years. Despite this shift toward cloud services, questions remain about sustainability, as OpenAI's current revenues are significantly less than its annual Oracle commitments. Oracle is also emphasizing environmental responsibility alongside its financial growth.

Oracle Corporation is approaching a $1 trillion valuation after a 36% stock surge, driven by significant AI and cloud computing advancements. The company secured four major cloud contracts, including a $300 billion deal with OpenAI, demonstrating its critical role in supporting AI platforms like ChatGPT. Oracle projects ambitious growth, expecting cloud infrastructure revenue to increase from $10.3 billion to $144 billion by 2030. This success has dramatically impacted co-founder Larry Ellison's wealth, which rose by $101 billion in a single day. Oracle's position highlights how AI-driven cloud infrastructure is transforming the tech industry and redefining market valuations.