Larry Ellison becomes world's No. 2 billionaire, pushing Jeff Bezos to fourth
Jeff Bezos has slipped to fourth place on the Forbes Billionaires List as Oracle co-founder Larry Ellison climbs to the No. 2 spot with a net worth of $258.8 billion, surpassing both Bezos and Mark Zuckerberg. The rally in Oracle shares fueled Ellison's rise. Elon Musk remains the world's richest, followed by Warren Buffett and Larry Page in fifth and sixth positions.
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The Hindu
7 hours ago
- The Hindu
Microsoft's AI edge under scrutiny as OpenAI turns to rivals for cloud services
Microsoft investors head into Wednesday's earnings with one big question: is the company's artificial intelligence edge at risk as partner OpenAI turns to rivals Google, Oracle and CoreWeave for cloud services? Exclusive licensing deals and access to OpenAI's cutting-edge models have made Microsoft one of the biggest winners of the generative AI boom, fueling growth in its Azure cloud business and pushing its market value toward $4 trillion. In the April-June quarter, the tie-up is expected to have driven a 34.8% increase in Azure revenue, in line with the company's forecast and higher than the 33% rise in the previous three months, according to data from Visible Alpha. But that deal is being renegotiated as OpenAI eyes a public listing, with media reports suggesting a deadlock over how much access Microsoft will retain to ChatGPT maker's technology and its stake if OpenAI converts into a public-benefit corporation. The conversion cannot proceed without Microsoft's sign-off and is crucial for a $40 billion funding round led by Japanese conglomerate SoftBank Group, $20 billion of which is contingent on the restructuring being completed by the end of the year. OpenAI, which recently deepened its Oracle tie-up with a planned 4.5 gigawatts data center capacity, has also added Google Cloud among its suppliers for computing capacity. UBS analysts said investor views on the Microsoft–OpenAI partnership are divided, though the software giant holds an upper hand. "Microsoft's leadership earned enough credibility … such that the company will end up negotiating terms that will be in the interest of its shareholders," the analysts said. Some of that confidence is reflected in the company's stock price, which has risen by more than a fifth so far this year. In the April-June period, Microsoft's fiscal fourth quarter, the company likely benefited from a weaker dollar, stronger non-AI Azure demand and PC makers pulling forward orders for its Windows products ahead of possible U.S. tariffs. Revenue is expected to have risen 14% to $73.81 billion, according to data compiled by LSEG, its best growth in three quarters. Profit is estimated to have increased 14.2% to $25.16 billion, slightly slower than the previous quarter as operating costs rose. Capital spending will also be in focus after rival Alphabet raised its annual outlay by $10 billion last week. Microsoft has repeatedly said it remains capacity constrained on AI, and in April signaled continued growth in capex after planned spending of over $80 billion last fiscal year, though at a slower pace and on shorter-lived assets such as AI chips. Dan Morgan, senior portfolio manager at Synovus Trust who owns Microsoft shares, said the spending has been paying off. "Investors may still be underestimating the potential for Microsoft's AI business to drive durable consumption growth in the agentic AI era."
Mint
a day ago
- Mint
Harsh Goenka lauds Jeff Bezos' idea on CEO's role, netizens say ‘identify employees who may have big ideas'
RPG Group Chairman Harsh Goenka posted a clip of Amazon founder Jeff Bezos, who described the role of a CEO in identifying big ideas, enforcing execution, and nurturing future leaders. In a post on the social media platform X, Goenka shared a video of Bezos with the caption, 'Role of CEOs …very succinctly put by Jeff Bezos.' The Amazon founder, during an interaction at the Dealbook Summit last year, said, 'Big leaders have to identify the big ideas, they have to enforce tough execution against those big ideas, and they need to grow the next generation of leaders. That's really it. So two things, and so my job part of what my job is right now is to make sure Andy Jassy and the whole leadership team are successful.' Several social media users have reacted to Goenka's post, where most of them resonated with the sentiment of growth through empowering others. One of the users commented, 'You grow by raising others …' Lauding Bezos' statement, another user said, 'Rightly put.' Meanwhile, one of the users stated, 'True but it starts with identifying people/ employees who may have big ideas. Then create a conducive environment at the work place so that potential grows and big ideas become reality.' Another user added, 'Focus on what won't change and then build relentlessly around it.' In a separate post on X, Goenka previously highlighted an incident where a global CEO expressed that he wants his Indian counterpart to excel in execution while relying on the UK for strategic thinking, reflecting a trend of increasing preference for Indian companies among job seekers. His post read, 'A global CEO with the most progressive Indian subsidiary told me, 'I want my Indian CEO to be the best execution engine- great hands and legs, but no need for brains. That part's here in the UK. This approach is why more people are preferring to work for Indian companies.' His post received mixed reactions from social media users. One of the users wrote, 'This mindset is exactly why Indian talent is increasingly choosing homegrown companies. We want brains valued, not just execution.' 'Isn't it unfortunate thought? What if Indian CEO has brains to improve the company overall?' added another user.
Time of India
a day ago
- Time of India
Microsoft's AI edge under scrutiny as OpenAI turns to rivals for cloud services
Academy Empower your mind, elevate your skills Microsoft investors head into Wednesday's earnings with one big question: is the company's artificial intelligence edge at risk as partner OpenAI turns to rivals Google, Oracle and CoreWeave for cloud services?Exclusive licensing deals and access to OpenAI's cutting-edge models have made Microsoft one of the biggest winners of the generative AI boom , fueling growth in its Azure cloud business and pushing its market value toward $4 the April-June quarter, the tie-up is expected to have driven a 34.8% increase in Azure revenue, in line with the company's forecast and higher than the 33% rise in the previous three months, according to data from Visible that deal is being renegotiated as OpenAI eyes a public listing, with media reports suggesting a deadlock over how much access Microsoft will retain to ChatGPT maker's technology and its stake if OpenAI converts into a public-benefit conversion cannot proceed without Microsoft's sign-off and is crucial for a $40 billion funding round led by Japanese conglomerate SoftBank Group, $20 billion of which is contingent on the restructuring being completed by the end of the which recently deepened its Oracle tie-up with a planned 4.5 gigawatts data center capacity, has also added Google Cloud among its suppliers for computing analysts said investor views on the Microsoft-OpenAI partnership are divided, though the software giant holds an upper hand. "Microsoft's leadership earned enough credibility ... such that the company will end up negotiating terms that will be in the interest of its shareholders," the analysts of that confidence is reflected in the company's stock price, which has risen by more than a fifth so far this the April-June period, Microsoft's fiscal fourth quarter, the company likely benefited from a weaker dollar, stronger non-AI Azure demand and PC makers pulling forward orders for its Windows products ahead of possible U.S. is expected to have risen 14% to $73.81 billion, according to data compiled by LSEG, its best growth in three is estimated to have increased 14.2% to $25.16 billion, slightly slower than the previous quarter as operating costs spending will also be in focus after rival Alphabet raised its annual outlay by $10 billion last week. Microsoft has repeatedly said it remains capacity constrained on AI, and in April signaled continued growth in capex after planned spending of over $80 billion last fiscal year, though at a slower pace and on shorter-lived assets such as AI Morgan, senior portfolio manager at Synovus Trust who owns Microsoft shares, said the spending has been paying off."Investors may still be underestimating the potential for Microsoft's AI business to drive durable consumption growth in the agentic AI era."
