AI Generated Image
Larry Ellison Bet It All on the A.I. Boom. Will He Be the Face of the A.I. Bubble?
The New York Times • • business
Key Points:
- On January 21, 2025, Larry Ellison, Oracle's founder and a billionaire worth about $200 billion, joined President Donald Trump at the White House to announce Project Stargate, a $500 billion investment over four years to build massive AI data centers delivering 10 gigawatts of computing power.
- Project Stargate aims to create sprawling 500,000-square-foot data centers powered by enough energy to supply 10 million homes, marking the largest AI infrastructure initiative in history and positioning Oracle as a key player in the AI era.
- Ellison had supported Trump early on, including backing his 2024 campaign financially, and facilitated cooperation between Trump and OpenAI CEO Sam Altman, despite Altman's Democratic ties and criticism of Trump.
- The initiative caps a two-year effort by Ellison to transform Oracle into a leading hyperscaler in AI infrastructure, responding to the rapid rise of AI technologies like ChatGPT and the ensuing race to dominate this transformative sector.
