Larry Ellison Bet It All on the A.I. Boom. Will He Be the Face of the A.I. Bubble?
Inside the 81-year-old billionaire’s risky, debt-fueled scramble to transform his data empire into an A.I. juggernaut. The president announced “the largest A.I. infrastructure project by far in history” and told the world that his friend Larry Ellison was just the man to get it done. “He’s sort of C.E.O. of everything,” Trump said. Ellison began by thanking Trump. “We certainly couldn’t do this without you,” he said. “It would simply be impossible.” He then proceeded to sketch out the ambitious plan. Ellison’s database software and cloud computing company, Oracle, and its partners — most prominently OpenAI — were going to invest as much as $500 billion over the next four years into a group of sprawling data centers, 500,000 square feet each, that would produce 10 gigawatts of computing power, using enough energy to power as many as 10 million homes. It was called Project Stargate, after the 1994 sci-fi movie. The effort began in late 2022 when the launch of ChatGPT stunned the world and set in motion a race to master and control the most transformative new technology since the birth of the internet. Analysts began bidding up how much generative A.I. would add to the global economy: $7 trillion over 10 years, $200 trillion by 2030and so on. Larry Ellison Bet It All on the A.I. Boom. Will He Be the Face of the A.I. Bubble? – The New York Times
