Welcome to the TechBrew right home for September 10th, 2025. I'm Brian McCullough today. Larry Ellison becomes the richest person in all the land. Is Oracle the new NVIDIA?

Spotify finally delivers on lossless audio. Robin Hood is going to roll out true social trading. Quantum computing continues to be hot and the startup

that's taking my AI podcast experiment to the next logical level. Here's what you miss today in the

world of tech. Larry Ellison has at least briefly this morning become the world's richest person for the first time ever with a personal wealth staked at around $393 billion, thereby overtaking Elon Musk's $385 billion. Why has this happened?

Well, Ellison's Oracle had an earnings report that caused the stock to rocket more than 45% this morning.

Interestingly, Oracle sort of missed across the board in terms of meeting estimates for this quarter,

but they promised potentially half a trillion dollars in projected data center backlog that will come through in the

coming years. Quoting CNBC, Oracle said Tuesday that its remaining performance obligations,

a measure of contracted revenue that has not yet been recognized, soared to $455 billion,

up 359% from a year earlier. During the quarter, OpenAI said it signed in agreement

with Oracle to develop 4.5 gigawatts of U.S. Data Center capacity, end quote. So, to reiterate

this, Oracle missed earnings but promised a tidal wave of AI earnings coming soon. And they thereby added $280 billion in

market cap in a single day. That's the entire market cap of Coke. Coca-Cola, the 33rd largest

company in the world, in a single day, I'll repeat. Quoting the journal,

Oracle now expects its cloud infrastructure revenue to hit $114 billion in the 2029 fiscal year compared with just over $10 billion in the fiscal year that ended in May.

The projection strongly suggests the 48-year-old company that is already one of the world's

largest software providers could more than double its total revenue over the next three years. That has shades of

AI chip, Titan, Nvidia, which quickly transformed from a niche supplier of video game chips

into the world's only company worth more than $4 trillion. Oracle stock, up 45% already this year, surged another 40%

Wednesday morning, putting the company's market cap around $950 billion. The stock hasn't seen

such a big single-day gain since the 1990s, according to fact-set data. Turning remaining

performance obligations into revenue will depend on the company's ability to build out its network to service those contracts. That will require power, permits, and equipment,

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