Oracle Founder Larry Ellison Just Delivered Fantastic News for Nvidia Stock Investors
Larry Ellison owns 42% of Oracle (NYSE: ORCL), a $465 billion technology giant that is building some of the most powerful data centers for artificial intelligence (AI) development.
Nvidia (NASDAQ: NVDA) supplies Oracle and most other tech companies with data center chips called graphics processing units (GPUs). Nvidia has experienced an eye-popping surge in its revenue over the past year, and GPU demand continues to outstrip supply. However, some investors have begun to question how much longer Oracle and its peers can throw billions of dollars at the chip giant to fuel their AI aspirations.
Worries that the AI train may be starting to lose steam are a key reason Nvidia stock is trading down 14.5% from its all-time high. But the market may have missed comments this month from Ellison at Oracle's financial analyst meeting that suggest more fantastic news for Nvidia's investors.
Source Fool.com
Oracle Corp. Stock
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