SoftBank Group's quarterly profit doubled, largely due to its significant investment in OpenAI. To fund this $30 billion investment, the company sold its stake in Nvidia for $5.8 billion. Concerns about tech stock valuations are rising as the AI market heats up.

Oracle's cloud services are playing a significant role in the growth of companies like OpenAI and Nvidia, contributing to substantial profits for Oracle's co-founder Larry Ellison. The strategic partnership and investments in artificial intelligence are driving this success, highlighting the increasing demand for cloud computing capabilities in the tech industry.