Oracle‘s massive growth trajectory for cloud infrastructure is lifting all boats.

The cloud giant forecasted skyrocketing sales to $114 billion in the company’s fiscal 2029, signalling demand for artificial intelligence processing will remain high over the next few years, and will require Oracle to build out new data centers.

“The guide for a 14x of Oracle’s cloud infra segment in 5 years, mostly from GPU cloud demand, and the guide for capex of $35b in FY26 is bullish Nvidia, other AI hardware suppliers and the eco-system of partners building and financing Oracle’s GPU data centers,” wrote UBS analyst Karl Keirstead in a note on Wednesday.

As Oracle shares roared 40% higher on Wednesday, companies that provide the chips and systems for its buildout — or even compete with it — are seeing their stocks boom.

Nvidia, which says its computers and chips comprise about 70% of the total budget for an AI data center, climbed 4%.

Taiwan Semiconductor Manufacturing Co., which makes chips for Nvidia and others in AI, rose over 4% during trading on Wednesday after it said sales increased by 34% in August.

Broadcom, which makes networking gear to tie Nvidia chips together and plays a key role in custom AI chips for companies like Google, climbed 9%.

AMD is the main Nvidia competitor for graphics processors used for AI, although its chips currently only have a small fraction of the market. Its shares rose 3%.

Micron, which makes memory used in Nvidia’s most advanced chips, rose 4%.

Super Micro and Dell, which both make complete server systems around Nvidia’s chips, each rose 4%.

“The vast majority of our CapEx investments are for revenue-generating equipment that is going into the data centers,” Oracle’s Safra Catz said on Tuesday.

The biggest gainer was one of Oracle’s so-called neo-cloud competitors, CoreWeave, which rose 20% on continued exuberance around insatiable demand for AI compute. Neo-clouds compete against Google, Amazon, and Microsoft for cloud customers by focusing on offering better access and tools for artificial intelligence.

Klarna shares popped 30% in their New York Stock Exchange debut Wednesday, opening at $52, after the Swedish online lender priced its IPO above its expected range.

The company, known for its popular buy now, pay later products, priced shares at $40 on Tuesday, raising $1.37 billion for the company and existing shareholders. The offering valued Klarna at about $15 billion.

The IPO marks the latest in a growing list of high-profile tech IPOs this year, suggesting increased demand from Wall Street for new offerings. Companies like stablecoin issuer Circle and design software platform Figma soared in their respective debuts. Meanwhile, crypto exchange Gemini is expected to go public later this week.

“To me, it really just is a milestone,” Klarna’s co-founder and CEO Sebastian Siemiatkowski told CNBC in an interview on Wednesday. “It’s a little bit like a wedding. You prepare so much and you plan for it and it’s a big party. But in the end — marriage goes on.”

Klarna’s entry into the public markets will test Wall Street’s excitement about the direction of its business. The company has in recent months talked up its move into banking, rolling out a debit card and personal deposit accounts in the U.S.

Klarna has signed 700,000 card customers in the U.S. so far and has 5 million people on a waiting list seeking access to the product, Siemiatkowski told CNBC. He added that Klarna Card represents a different proposition to rival fintech Affirm’s card offering, which has attracted 2 million users since its launch in 2021.

“We’re attracting a slightly different audience maybe than the Affirm card,” Siemiatkowski said. “I get the impression that is more a card where people use it simply to be able to have financing with interest on slightly higher tickets.”

In addition to Affirm, Klarna also competes with Afterpay, which was acquired for $29 billion in 2021 by Square, now a unit of Block.

Klarna faces some potential regulatory headwinds. In the U.K., the government has proposed new rules to bring BNPL loans under formal oversight to address affordability concerns regarding the market.

The IPO is poised to generate billions of dollars in returns for some of Klarna’s long-time investors. Existing shareholders are offering the bulk of Klarna shares— 28.8 million — on the public market. At its IPO price of $40, that translates to over $1.2 billion. Meanwhile, Klarna raised $222 million from the IPO.

Sequoia, which first backed in Klarna in 2010, has invested $500 million in total. The venture firm sold 2 million of its 79 million shares in the IPO, meaning it’s generated an overall return of about $2.65 billion, based on the offer price.

Andrew Reed, a partner at Sequoia, told CNBC that he was still in college when Sequoia made its first investment in an “alternative payments company in Stockholm.” The early work, he said, was around expanding in Europe.

“Being here in New York 15 years later with over 100 million consumers and over $100 billion of GMV [gross merchandise value] and close to a million merchants, it is staggering what one year after another of execution and growth and Sebastian’s long-term vision can do,” Reed said.

Another Klarna investor hasn’t been so lucky. Japan’s SoftBank led a 2021 funding round in Klarna at a $46 billion valuation and has since seen the value of its stake plunge significantly.

WATCH: CNBC’s interview with Klarna CEO Sebastian Siematkowski

Larry Ellison became more than $110 billion richer on Wednesday, a day after Oracle, the software company he helped to start in 1977, issued dramatic cloud growth projections for the next five fiscal years.

Those projections sent Oracle’s stock price flying, up more than 40% on Wednesday, lifting Ellison‘s net worth to about $391 billion. The total puts Ellison closer to dethroning Elon Musk as the world’s wealthiest individual. Forbes says Musk, 54, CEO of automaker Tesla, is worth just over $436 billion.

Ellison, 81, remains active in Oracle as chief technology officer and chairman. Rather than gradually sell off his position in the database software maker, he has maintained it, holding more than 1.1 million shares for over 25 years. His disciple Marc Benioff, who runs sales management software company Salesforce, has done the opposite, and now Benioff, 60, is worth about $10 billion. Musk’s share of Tesla has gone up thanks to generous pay packages, and the value of his SpaceX holding has multiplied in the past decade.

In 2022, Ellison stepped down from the Tesla board after almost four years, but he’s been keeping busy ever since.

He has sharpened his focus on the health-care industry with Oracle’s $28 billion acquisition of Cerner in 2022, he ramped up his philanthropy with the launch of the Ellison Institute of Technology at the University of Oxford in December and he helped complete the $8 billion Paramount Global-Skydance merger last month. Ellison has also become an arms dealer for artificial intelligence infrastructure, most significantly allying Oracle with ChatGPT provider OpenAI.

On Tuesday, Oracle said that its remaining performance obligation, a measure of contracted revenue that has not yet been recognized, now stood at $455 billion, up 359% from last year. Oracle also said its cloud infrastructure revenue stands to jump from $10 billion in the most recent fiscal year to $144 billion in fiscal 2030.

“Clearly, we had an amazing start to the year because Oracle has become the go-to place for AI workloads,” Ellison said at the beginning of Oracle’s earnings call on Tuesday, during which analysts competed to toss the highest compliments at him and CEO Safra Catz. “We have signed significant cloud contracts with the who’s who of AI, including OpenAI, xAI, Meta, Nvidia, AMD and many others.”

Meanwhile, Oracle has continued to grow in the sales of standard software.

“And by the way, we’re much bigger than Workday or ServiceNow. And we’re solving a larger portion of the problem,” Ellison told the analysts. ServiceNow and Workday were worth a combined $256 billion on Wednesday morning. Oracle’s market capitalization exceeded $950 billion. Only nine companies on the S&P 500 index are worth more.

Ellison has long been a supporter of President Donald Trump, donating to his campaigns and helping him raise outside money. The relationship offers a potential business benefit to the Oracle co-founder.

Trump has been delaying the sale of TikTok’s U.S. business, and said in January that he’d be open to ByteDance selling that business to Musk, who previously worked for the administration, or to Ellison.

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