Other than ego, maybe he sees the writing on the wall for his core business?
But seeing all these new AI companies being valued at hundreds of billions must have driven Ellison crazy
Me neither. Isn't that enough? Does the line always have to go up? It really look like stock market and tech companies are classic gamblers. No gain or profit is good enough to just take it and stop.
Unfortunely yes, that is the MBA school, and then when the gamble fails, it is the employees that get shown the door, because company XYZ did not met their targets.
CEO might even get a bonus as payoff for a risky move, from shareholders point of view, go figure this logic.
But I also know that people like him or Elon are the most susceptible to losing touch with reality due to being surrounded layers and layers deep by hype. Nothing about being rich prevents him from going all in and reaping financial ruin as a reward.
Now they are out raising debt (again) and equity too, to fund DCs and hardware with no proven return.
I cannot comprehend it.