Oracle shares climbed after Gene Munster said the company’s $300 billion deal with OpenAI highlights how early the industry is in the AI race, according to Benzinga. Oracle’s stock surge briefly made Larry Ellison the world’s richest person, while Gene Munster said the $300 billion OpenAI deal cements Oracle’s role as an AI hyperscaler. The OpenAI contract is part of Oracle’s $455 billion AI backlog, up 359% year-over-year and far above expectations, which Munster said shows demand stretching beyond supply. He noted risks in Oracle’s growing reliance on one customer but said the buildout could drive years of growth. Shares rose 2% to $298 on Monday, with the stock up 79.7% year-to-date in 2025.
