American billionaire Larry Ellison loses $15bn on Oracle
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Artificial intelligence (AI) has generated doubts in the technology sector because of the enormous spending involved in its development, its implications for cybersecurity and even fears about a possible “financial bubble.” These concerns have begun to diminish the fortunes of entrepreneurs such as Elon Musk and Larry Ellison. According to Bloomberg’s millionaire index, one of the entrepreneurs linked to the development of artificial intelligenc…
Falling Oracle shares, rising debt and investor concerns about investing in artificial intelligence have knocked the fortunes of one of tech's most famous billionaires. Larry Ellison is now worth $178 billion, after his assets dropped by $194 billion in one year. Artificial intelligence has brought great promises to the technology industry, but also increasingly expensive bills. That on […] The article AI race is getting more expensive: Larry El…
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