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People online are definitely divided between liking and hating what the Tesla and Twitter chief Elon Musk does. But there is definitely one person who is on Musk’s side and fuelling his ambitions throughout these years – Larry Ellison, the CTO of Oracle, and Musk’s longtime friend. Taking flights to meet each other in Hawaii.
At Oracle CloudWorld 2023, during his keynote speech, Ellison introduced OpenAI as a company founded by Musk 10 years back, not just as the creator of ChatGPT. Moreover, he also highlighted his love for Tesla cars, also announcing that Oracle is powering xAI and Tesla. Added to that is the Tesla police car and possibly a drone as well. It is clear that Ellison is fuelling Musk’s ambition in every field.
Long running friendship
In the world of high-stakes investments, sometimes even billionaires like Ellison and Musk can find themselves on a rollercoaster ride of financial ups and downs. Ellison is a known car collector, embarked on an intriguing journey when he invested in Tesla, the electric car maker led by the enigmatic Musk in 2018.
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While this investment may not have panned out as expected, Ellison’s foray into Tesla was bold, to say the least. He disclosed the purchase of 3 million shares in the electric car company at the end of December, only to witness Tesla’s stock tumble by a staggering 42%. Yet, despite the financial setback, Ellison remained steadfast in his support for Tesla. His investment was not solely about monetary gains; it was a testament to his belief in Tesla’s mission to revolutionise the automotive industry.
In a surprising twist, Ellison joined Tesla’s board in 2018, becoming an integral part of the company. This move was a result of a settlement with the SEC, which had challenged Musk’s tweet claiming he had “secured” funding to take Tesla private at $420 a share. Ellison’s presence on the board signified his commitment to Tesla’s vision and signalled his alignment with Musk’s ambitions.
Ellison’s unwavering support for Tesla was evident when he proudly proclaimed his friendship with Musk and his significant investment in the company. At an analyst meeting, he remarked, “And so Tesla had a good day. And I think Tesla has a lot of upside.” This statement was made when Tesla was trading at about $315 per share. While the stock’s price has faced turbulence since then, Ellison’s dedication to the cause has not wavered.
The partnership between Ellison and Musk goes beyond Tesla’s electric cars. Musk’s ventures extend into space exploration with SpaceX, and Ellison has not been shy about voicing his admiration for Musk’s rocket-landing feats. He exclaimed, “This guy is landing rockets on robot drones. Who else is landing rockets? Who are you?” Ellison’s fascination with Musk’s achievements in space exemplifies the mutual respect and admiration shared between these two tech titans.
Musk reportedly also got $1 billion from Ellison during his Twitter acquisition.
Let’s go xAI X Oracle
Cut to 2023, Musk is the richest billionaire in the world, while Ellison is on the fifth spot.
Now, Ellison and Musk are collaborating once again. This time in the realm of cloud computing and AI. Musk’s new AI venture, xAI Corp, seeks to create a “maximum truth-seeking” AI chatbot, a project that demands colossal computing power and storage capacity.Ellison’s Oracle Corporation provides the necessary cloud computing infrastructure for training xAI models.
Oracle, known for its cloud hosting and database management services, has found itself facing stiff competition from industry giants like Amazon Web Services and Microsoft Azure. In this context, Ellison’s decision to collaborate with Musk not only brings significant financial gains but also reinforces Oracle’s position in the cloud computing market.
Musk’s vision for xAI Corp aligns with his relentless pursuit of advancing technology for the betterment of humanity. He envisions a global network of smart cities powered by Oracle’s technology, self-driving cars, taking people to mars, and a lot more.
Moreover, Ellison’s willingness to invest in Musk’s ventures, despite market fluctuations and financial uncertainties, showcases the power of visionaries. Both Ellison and Musk share a passion for pushing the boundaries of technology and innovation, and dislike Bill Gates, making them a formidable team in the pursuit of solutions.