Larry Ellison is making so much money from AI that his net worth is approaching Jeff Bezos

The tech billionaire is closing in on Amazon $AMZN (AMZN) founder Jeff Bezos’s net worth as the software giant’s shares drive higher due to its cloud businesses. Ellison owns just under 40% of Oracle’s outstanding stock, according to Forbes, which has climbed almost 55% so far this year. The Oracle chairman and chief technology officer’s real-time net worth is $192.4 billion, according to Forbes — putting him about $10 billion behind Bezos’s real-time net worth of $202.6 billion. Meanwhile, Ellison’s total net worth, according to the Bloomberg Billionaires Index, is currently $168 billion.

After Oracle beat Wall Street’s estimates in its first-quarter earnings report on Monday, the software company saw its shares jump 13% on Tuesday, before closing at a record $157.10 on Wednesday. The company’s total quarterly revenues in USD were up 7% from the previous year, while revenues were up 8% in constant currency, it said. In its cloud services division, Oracle’s revenues in USD were up 12% year-over-year, while it was up 22% in constant currency.

“As Cloud Services became Oracle’s largest business, both our operating income and earnings per share growth accelerated,” Oracle chief executive, Safra Catz, said in a statement.

Meanwhile, Ellison said the company has 162 cloud data centers, either in operation or under construction, around the world. “The largest of these datacenters is 800 megawatts and will contain acres of NVIDIA GPU Clusters for training large scale AI models,” Ellison said.

Nvidia $NVDA (NVDA) has also been a winner of the AI boom, seeing its shares rise around 146.7% so far this year on demand for its AI chips. On Tuesday, however, Nvidia chief executive Jensen Huang said shortages of its highly anticipated Blackwell chips have customers feeling “tense.”