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Ellison's fortune swings on Oracle's AI debt binge

Oracle has nearly doubled its long-term debt to fund AI data centers, and Larry Ellison's net worth has dropped roughly $200 billion in a year as the stock slides. Across town, his son's Paramount-Warner deal leans on a similar debt stack.

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8 moves

Larry EllisonDebtAI & techORCLAI read · ▼ Risk

Oracle's AI debt binge leaves Ellison exposed

The move

Oracle has nearly doubled its long-term debt to more than $160 billion over two years to fund AI data centers, making it the fifth-largest borrower in the U.S. corporate bond market. S&P downgraded Oracle to BBB-, its lowest investment-grade rating, in July, and Oracle shares have fallen more than 50% over the past 12 months. Ellison's net worth has dropped about $200 billion over the past year to roughly $192 billion. Separately, Paramount Skydance, led by Ellison's son David, completed a $52 billion financing package of bonds and loans to support its $111 billion acquisition of Warner Bros. Discovery, with an Ellison family trust guaranteeing about $47 billion in equity.

Why it matters

Ellison's own fortune and his family's broader financial exposure are increasingly tied to debt-funded bets on AI infrastructure and media, both of which are now showing strain.

The bear case

Oracle's AI cloud backlog could still pay off if customer demand holds, and the debt is financing revenue-generating data centers, not consumption.

What to watch

Oracle's next quarterly earnings report for an update on free cash flow and the pledged-share total.

Source · Billionaires.AfricaRead original ↗Report an error

Ken GriffinGivingFinancePrivateAI read · — Legacy play

Griffin gives $3 billion to Carnegie Mellon, builds Miami campus

The move

Ken Griffin donated $3 billion to Carnegie Mellon University, which the school is calling the largest individual gift in the history of higher education. Of that, $2 billion will fund a new Carnegie Mellon campus in Miami. CMU's School of Computer Science will be renamed for Griffin, who is joining the university's board of trustees.

Why it matters

The gift extends Griffin's bet on Miami as a hub for finance and tech talent, following Citadel's own relocation there and his separate $1.1 billion purchase of Wynwood land in September.

The bear case

Naming-rights megagifts draw criticism that university donations should prioritize need-based student aid over branding and campus expansion.

What to watch

Groundbreaking timeline for the Carnegie Mellon Miami campus.

Source · CBS News PittsburghRead original ↗Report an error

Masayoshi SonPolicyAI & tech9984.TAI read · — Caution

SoftBank's Son warns superintelligence could be 'super dangerous'

The move

Speaking at the Science and Technology in Society forum in Kyoto on October 4, SoftBank CEO Masayoshi Son said superintelligent AI in the wrong hands could become "super dangerous" and that nations need to build mutual trust to manage the technology safely, saying "we don't have any more luxury of having human fight against human." The forum also featured a 17-country initiative, announced by White House adviser Michael Kratsios, promoting AI to accelerate scientific research. Son still projects AI will contribute at least 20% of global GDP, about $46 trillion, by 2040.

Why it matters

The warning is notable from one of AI's biggest financial backers; SoftBank has committed nearly $65 billion to OpenAI.

The bear case

An AI financier warning about the risks of a technology he's aggressively funding can look like positioning rather than a real course change.

What to watch

Whether the 17-country Kyoto initiative leads to binding commitments.

Source · The StarRead original ↗Report an error

Elon MuskMarketsAutosTSLAAI read · ▲ Beat

Tesla delivers 486,532 vehicles, tops Wall Street estimates

The move

Tesla delivered 486,532 vehicles in the third quarter of 2026, down 2.1% from last year's 497,099 but about 24,500 more than Wall Street's estimate of 461,974. Model 3 and Model Y accounted for 478,237 of the deliveries, and Tesla produced 464,391 vehicles in the quarter. Shares rose about 5% after the report.

Why it matters

The beat shows Tesla is still finding buyers even after the $7,500 federal EV tax credit expired in September.

The bear case

Deliveries are still down year over year, and energy storage deployments missed estimates at 13.7 GWh versus a forecast of 15.9 GWh.

What to watch

Tesla's Q3 earnings call on October 21.

Source · ElectrekRead original ↗Report an error

Gautam AdaniInvestmentEnergyPrivateAI read · ▲ Scale-up

Adani Green builds world's largest battery storage site

The move

Adani Green Energy expanded operational battery storage capacity at its Khavda, Gujarat site to 6.63 gigawatt-hours, up from 3.55 GWh in June, reaching the milestone within 14 months of starting construction. The company says Khavda is now the largest operational battery storage installation at a single location in the world and accounts for more than half of India's roughly 12.6 GWh of operational battery storage capacity. Adani Green is targeting more than 10 GWh of additional capacity in fiscal 2026-27 and 50 GWh within five years.

Why it matters

Battery storage is what lets Adani's giant Khavda renewable energy complex supply power around the clock, not just when the sun shines or wind blows.

The bear case

Scaling battery manufacturing and sourcing this fast raises supply-chain and safety-oversight questions that haven't been tested at this size.

What to watch

Progress toward the 10 GWh fiscal-year target.

Source · PV Magazine IndiaRead original ↗Report an error

Mukesh AmbaniIPO / MarketsOtherPrivateAI read · ▲ Big listing

Jio Platforms lines up India's biggest-ever IPO

The move

Reliance's Jio Platforms is preparing an IPO targeting about $3.8 billion, with a launch planned around October 21 and listing around October 28. That would top Hyundai Motor India's $2.9 billion 2024 offering as India's largest IPO. Most of the proceeds are earmarked for reducing telecom debt rather than new growth spending. Jio has partnerships with Meta and Google and plans to expand into AI, cloud and enterprise network services.

Why it matters

A successful listing would be India's largest IPO yet and a major test of investor appetite for Reliance's telecom arm.

The bear case

Nearly 250 companies are already queued for Indian IPOs targeting a combined $48 billion, a crowded calendar that could pressure pricing.

What to watch

Confirmation of the October 21 launch date and final price band.

Source · FinimizeRead original ↗Report an error

Carlos Slim Helu & familyPropertyReal estatePrivateAI read · — Redevelopment bet

Slim commits $200 million to rebuild historic Puebla district

The move

Carlos Slim's Grupo Carso announced a 4 billion peso (roughly $200 million) investment to redevelop the Paseo San Francisco area near Puebla's historic center, including about 700 apartments, two levels of retail, underground parking and new public plazas, with construction over about two years. The plan already has 1.5 billion pesos committed to land purchases and is expected to create 1,500 direct and 2,500 indirect jobs, with hiring priority for people living in the area.

Why it matters

It echoes Slim's redevelopment of Mexico City's historic center in the early 2000s and signals a continued bet on Mexican urban real estate.

The bear case

Large redevelopment projects near historic districts can displace existing small businesses and residents despite stated plans to prioritize locals for jobs.

What to watch

Permitting and groundbreaking progress over the next two years.

Source · ExpansiónRead original ↗Report an error

Robin ZengOtherAutos300750.SZAI read · — Reality check

CATL's Zeng pours cold water on solid-state battery timeline

The move

Days after China's industry ministry and six other agencies set a 2030 target for large-scale use of solid-state batteries on September 28, CATL chairman Robin Zeng said the technology is only at level four of nine on a production-readiness scale, where nine means ready for mass vehicle production. Zeng said the odds of solid-state batteries reaching one million cars before 2030 are "very small," and CATL still plans only limited pilot production in 2027.

Why it matters

CATL is the world's biggest battery maker, so its own timeline is a reality check on China's more ambitious official target.

The bear case

Zeng has an incentive to downplay a rival technology that could eventually challenge CATL's dominant lithium-ion battery business.

What to watch

CATL's 2027 pilot production results.

Source · China Tech NewsRead original ↗Report an error

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What to watch

Tesla's Q3 2026 earnings call, October 21Jio Platforms' planned IPO launch, around October 21Oracle's next quarterly filing for an update on free cash flow and pledged sharesGroundbreaking on Carnegie Mellon's Miami campusCATL's 2027 solid-state battery pilot production

Quick hits

Tesla has delivered 1,324,681 vehicles year-to-date through Q3 2026, up 8.8% from the same period last year, per Electrek's tally of Tesla's own figures.Citadel manages $76 billion in investment capital; Forbes puts Ken Griffin's own net worth at about $57.6 billion.Adani Green's Khavda battery storage site can store enough clean energy to power about two million homes a day.

If you run a business, not a fund

A debt-funded AI build-out can supercharge your balance sheet on the way up and expose it just as fast when the stock turns — know your pledged collateral before you lean on it more.Scaling infrastructure (batteries, data centers) in months rather than years is now a competitive weapon, but it outruns the usual safety and supply-chain checks.A big public gift tied to a location (a campus, a stadium) is also a talent-recruiting move — pair giving with where you actually want people to relocate.