Vijay says he has left his riches and joined politics, urges people to vote for his party TVK: ‘I will never lie’TVK chief, actor-politician Vijay, addressed thousands of supporters after filing his nomination. Mar 30, 2026, 18:32:47 IST By Santanu Das Share via Copy link TVK chief
A return to Formula 1 will be difficult for former Red Bull team principal Christian Horner because he has "broken quite a lot of glass", says ex-Mercedes rival Toto Wolff. Horner was sacked in July after 20 years in his role following declining form and internal disputes
Toyota has started testing the next-generation Fortuner in Thailand. The SUV was recently spotted on public roads wearing heavy camouflage. 2026 Toyota Fortuner: Toyota has started testing the next-generation Fortuner in Thailand. The SUV was recently spotted on public roads wearing heavy
To speak with his mother inside Iran, Yaser Fattahi waits in self-exile in Iraq for brief calls arranged by a cousin back home who travels close to the border between the neighboring countries where he can pick up a signal to connect them. Fattahi fled to neighboring Iraq in December
The war in Iran and the effective closure of the Strait of Hormuz - through which around 20% of the world's oil and natural gas flows - has seen fuel costs rise sharply in the past month. With the disruption expected to have a lasting impact on prices
Max Verstappen said his current unhappiness has left all options on the table, including retirement once the current Formula 1 season ends. A winner of 71 career F1 races, which trails only Lewis Hamilton (105) and Michael Schumacher (91) all-time
The government has approved 29 applications under the electronics component manufacturing scheme entailing cumulative investment of ₹7,104 crore, a senior IT ministry official said on Monday (March 30, 2026). The Ministry of Electronics and IT (Meity) Secretary, S Krishnan
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Amazon Gaming Fest ends tomorrow! 10 price drop deals on gaming laptops you can't missAt Amazon Gaming Fest you can enjoy discounts up to 35% on the most popular gaming laptop series
ET Explainer: How Oracle became the new Nvidia amid AI cloud surge
On September 10, Oracle announced a series of multi-billion-dollar deals in AI cloud. This move led to a 36% surge in its shares, the largest one-day gain since 1992. Among them is a $300 billion, five-year deal with OpenAI, which is a part of an ongoing pipeline of deals involving major tech companies such as Nvidia, Softbank, and Meta.
The one-day surge was of such a magnitude that Oracle co-founder Larry Ellison briefly overtook Elon Musk as the world's richest person. With a substantial long-term revenue outlook and high growth projections, Oracle is having a comeback as a major player in the AI ecosystem.
Why did Oracle's stock surge recently?
Oracle's shares increased by 36% on September 10, leading to the biggest single-day gain since 1992. This surge is an aftermath of the company's announcement of several multibillion-dollar AI cloud infrastructure deals, including one with OpenAI.
Also Read: Explained: What's behind the Oracle rally
What are the deals about?
The most significant deal is a $300 billion, five-year deal with OpenAI, one of the biggest cloud computing agreements ever. Oracle will offer the computing resources and cloud infrastructure required to support OpenAI's plans. Nvidia, SoftBank, xAI, and Meta are some of the other important clients.
What is Oracle's backlog, and does it matter?
The backlog of finalised contracts was $455 billion, four times as much as last year. With deals closing, CEO Safra Catz expects it to cross $500 billion. This backlog is an assurance of long-term revenue for investors.
Why is this important?
Oracle now competes with Amazon Web Services and Microsoft Azure in AI infrastructure, with all the deals. Despite Oracle not meeting quarterly revenue projections, investors show confidence in its long-term growth.
What does this mean for the whole AI ecosystem?
Oracle is one of the biggest providers of AI infrastructure for the top firms, which could allow global AI adoption by offering high-power and reliable cloud computing for advanced AI models to businesses and startups.
Source: EconomicTimes
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