Elon Musk And Oracle's Larry Ellison 'Begged' Jensen Huang For Nvidia GPUs At A Dinner: 'Please Take Our Money'

Benzinga Neuro

September 17, 2024

Larry Ellison and Elon Musk recently implored Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang for additional GPUs during a dinner at Nobu Palo Alto.

What Happened: During a meeting with analysts last week, Ellison, co-founder and CTO of Oracle Corp. (NYSE:ORCL), revealed that he and Tesla Inc. (NASDAQ:TSLA) CEO Musk “begged” Huang for more GPUs.

Ellison humorously recounted, “Please take our money. By the way, I got dinner. No, no, take more of it. We need you to take more of our money please.”

The dinner’s outcome was positive, according to Ellison, who said, “It went ok. I mean, it worked.” Ellison, whose fortune is estimated at $206 billion, according to Forbes, has a history of anticipating technological shifts and positioning Oracle to benefit from them.

Oracle has maintained a strong relationship with Nvidia, which dominates the artificial intelligence chip market. The company is heavily investing in GPU technology for AI applications, with revenues up 7% to $13.3 billion in the first quarter of fiscal 2025.

Similarly, Tesla relies on Nvidia GPUs to train its neural networks for self-driving technology. Ellison emphasized the importance of being the first to build the most capable neural network, stating, “It’s a big deal.”

See Also: Billionaire Ray Dalio Warns Potential Election Chaos Likely If Loser, Particularly Trump, Rejects Outcome – ‘My Great Fear Is for Democracy’

Why It Matters: The global supply of high-performance memory chips is expected to remain constrained throughout 2024, driven by the soaring demand for artificial intelligence technology. Leading memory chip suppliers like SK Hynix and Micron Technology Inc. are already facing shortages, with stock for 2025 nearly depleted.

In May, Musk acknowledged and praised Nvidia’s impressive market cap, which had reached $2.55 trillion, making it the third most-valued global corporation.

In June, Musk justified his decision to divert Nvidia chips meant for Tesla to his other ventures, X and xAI, explaining that the existing factory space was already allocated to vehicle, battery, and cell production.

The demand for Nvidia’s RTX 4090 graphics cards has also surged, leading to a supply crisis exacerbated by U.S. sanctions on advanced chips to China.

Read Next:

Elon Musk’s Ex-Wife And Mom Of 5 Says He Was Willing To Give Up His Fortune For Space Goals, Even If It Meant Moving In With Her Parents

Photos courtesy: Wikimedia, Shutterstock and Nvidia

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Recommended

2024 Oil Boom - Ad

President Trump and Elon Musk Issue Stark Warning - Ad

Don't Buy Another Stock Until You See This - Ad

DEER PARK, Texas (AP) — Human remains were found inside an SUV that authorities say hit an aboveground valve on a pipeline in suburban Houston, causing that has burned for four days, officials said Thursday.

EXCLUSIVE: Fed In 'Pro-Growth Mode' Will Drive Small Cap Performance, Lazard Expert Says

Small caps benefit from Fed's pro-growth mode and easing financial conditions, boosting their appeal. Gallagher predicts 30% upside for Russell 2000.

My No. 1 Oil Play for 2024

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

What's Going On With Hawaiian Electric Shares On Thursday?

Hawaiian Electric Industries is issuing shares worth $250M through agents like Wells Fargo and Barclays.

Safaricom, Mastercard Team Up To Supercharge Cross-Border Payments And Merchant Growth In Kenya

Mastercard and Safaricom have partnered to enhance payment acceptance and streamline cross-border remittances for over 636,000 Kenyan merchants.

Don't Tell ANYONE About This Altcoin (Until It Pops)...

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Makes Final Call, Says This Person Will Be 'Next President Of The United States'

A famous election forecaster has made their final prediction on who will win the 2024 presidential election.

FBI disrupts Chinese cyber operation targeting critical infrastructure in the US

WASHINGTON (AP) — The FBI has disrupted a group of Chinese hackers who were working at the direction of the Chinese government to infiltrate critical infrastructure in the U.S. and other countries and to spy on and steal data from universities, government agencies and others, Director Chris Wray said Wednesday.

Man Who Called Nvidia at $1.10 Says Buy This Now...

Man Who Called Nvidia at $1.10 Says Buy This Now... - Ad

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

Goldman Sachs Sees Gold Higher, Takes A Downbeat Stance On Iron Ore

Goldman Sachs bullish on gold, citing central bank demand and expected Fed rate cut. Price target of $2,700/oz by 2025. Iron ore forecast downgraded.

Scaramucci Says Melania Trump Would Prefer Kamala Harris To Donald Trump As President

Anthony Scaramucci has claimed that Melania Trump would rather see Kamala Harris win the presidency than her own husband.

4 Cryptos Set to Outperform Bitcoin in 2024

4 Cryptos Set to Outperform Bitcoin in 2024 - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

Japan's trade deficit grows while both imports, exports fall short of forecasts

TOKYO (AP) — Japan posted a trade deficit for a second straight month in August, the Finance Ministry said Wednesday, despite signs of sluggish consumer spending that weighed on imports.

Used Car Seller Carvana On Road To $15B Revenue By 2025 As Unit Growth Accelerates: BofA

BofA analyst reinstates Buy rating for Carvana with $185 price target. Expects sustained growth in recovering market and improved financials.

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just released this shocking new video exposing Democrats' secret plan to keep Trump out of the White House... Even if he wins the election. See the details and learn how to prepare... Because this could trigger the biggest constitutional crisis in our nation's history.

Americans Split On Election Result Acceptance Between Harris And Trump, Here Is The Candidate They Think More Likely To Accept Voters' Verdict

A survey conducted by ABC News/Ipsos has shed light on the American public's confidence in the acceptance of the upcoming November presidential election results by Vice President Kamala Harris and former President Donald Trump.

Harris Vs. Trump: Vice President On Top By Three Points, How Her Lead Compares To The 2020 Election At This Point In Race

A new 2024 election poll of likely voters shows a three-point lead for Kamala Harris. There is good and bad news from the poll for the vice president.

The No. 1 AI Stock of 2024 (Not Nvidia)

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Shaquille O'Neal Reflects On Divorce, Fatherhood And Personal Accountability: 'I Was Lost. 76,000 Square Foot House By Yourself'

For many the topic of divorce and overcoming the great life obstacle can be tough. NBA legend Shaquille O'Neal shared his candid thoughts on the topic.

The 2024 Olympics were a success for Paris but a calamity for some of its businesses

PARIS (AP) — Parisian business owners and hotel managers were promised a summer like no other. Millions of tourists would flood the French capital for the and , generating huge profits for Paris and its region.

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now - Ad

A new technology (not AI) is powerful enough to save America $1.7 TRILLION in healthcare costs each year. Trump is rumored to use it personally... And Kamala Harris has threatened to have key patents on it seized. Whoever wins the election - it could cause a massive surge in demand... And send a tiny firm with key patents on this technology soaring. It's currently trading for only $7. But it likely won't stay this cheap for long.

China's economy softens in August as Beijing continues to grapple with lagging demand

BEIJING (AP) — China’s economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand.

Russian President Says Ukraine's Use Of Long-Range Missiles Would Signal That US And NATO 'Are At War With Russia'

Russia, the world's largest nuclear power, is currently revising its nuclear doctrine and considering curbs on major commodity exports.

4 Steps to Survive the Coming Market Crash

4 Steps to Survive the Coming Market Crash - Ad

There are massive cracks forming right below the surface of our "shining city." These cracks are a symptom of a much bigger problem that threatens the very foundation of our country. Things are starting to unravel at a fast pace, as America sees worst economic hell our country has ever been in.

Consumer Tech News (Sep 8-Sep 14): Gaming Industry Biggies Facing Accusations For Decieving Players, Apple Launches iPhone 16 & More

The tech sector is facing weakness despite AI hype. Gaming companies face accusations of overspending, while Netflix's mobile gaming catalog hits 210M downloads. Microsoft's Xbox Game Pass overhaul impacts anticipated titles. DirecTV accuses Disney of bad faith negotiations.

Kim Jong Un's North Korea Outranks China As Russia's Top Ally In Ukraine Conflict, Says Military Intelligence Chief

North Korea has been dispatching millions of shells from its aging stockpiles and boosting domestic production to supply Russian forces.

Seven Unknown AI Stocks That Could Dominate the Next Six Years

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Trump Vs. Harris: Vice President's Strong Debate Showing, Taylor Swift Endorsement Do Not Move Needle On Her Poll Numbers As Pollster Cites This Reason

Strong debate performance hasn't translated to strong voter preference for Vice President Kamala Harris, according to a new poll.

The next generation of Buffetts is poised to become one of the biggest forces in philanthropy

OMAHA, Neb. (AP) — The next generation of Buffetts — Howard, Susie and Peter — is poised to become one of the most powerful forces in when their 94-year-old father, the legendary businessman and leader of Berkshire Hathaway, , eventually passes away.

Could You Retire on a Single AI Stock (Trading for Only $15)?

Could You Retire on a Single AI Stock (Trading for Only $15)? - Ad

Imagine what the perfect AI stock would look like...forefront of AI trend...virtual monopoly in its market... exempt from federal taxes. As you're about to see, this perfect AI stock does exist, and is currently trading for only $15. With just one investment, you could potentially set yourself up for massive financial gains.

Scaramucci: Trump Wins Billionaires' Support Despite Coming Off As 'Raging Lunatic,' Harris Backs A 'Ridiculously Stupid Idea'

Trump is someone who can't keep to his messaging and his rival Kamala Harris can gain an upper hand by going on offensive, says Scaramucci.

FACT FOCUS: Posts falsely claim video shows Harris promising to censor X and owner Elon Musk

After a of billionaire Elon Musk's X platform in Brazil, social media users — including former independent presidential candidate — are misrepresenting a years-old video of Vice President Kamala Harris to falsely claim that the Democratic presidential nominee has threatened to censor both X and Musk.

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now - Ad

A new breakthrough drug is predicted to hit 250 million subscriptions in the next SIX YEARS, according to Morgan Stanley. Even better, a tiny company - trading for only $7 - holds key patents on this new drug. But it won't stay under the radar for much longer.

Turkey's Spy Chief Meets With Hamas To Discuss Cease-Fire In Gaza: Reports

Turkey's intelligence chief met with Hamas in Ankara to discuss Gaza ceasefire negotiations, as Turkey denounces Israel's assault and conducts intensive diplomacy.

September Market Seasonality: Why This Month Is Historically The Toughest For Investors

As the market enters September, investors brace for what is historically the most difficult month of the year for equities.

Man Who Predicted Trump Win Issues Shocking New Election Prediction

Man Who Predicted Trump Win Issues Shocking New Election Prediction - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

Jerome Powell-Led Investigation Finds Atlanta Fed President Raphael Bostic Breached FOMC Rules, Created 'Conflict Of Interest' Over Securities Trading Violations

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, breached Federal Open Market Committee rules and Reserve Bank policies, according to a report by the central bank's Office of Inspector General.

Mohamed El-Erian Says While Most Assets Recovered After A 'Shaky Start' In August, Bitcoin Was Among The Exceptions

Mohamed El-Erian, Chief Economic Advisor at Allianz, noted Bitcoin's (CRYPTO: BTC) underperformance in August vis-à-vis other major asset classes.

This $2 Stock Outshines Historic Gold Rally!

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

Nvidia, NetApp And 2 Other Stocks Executives Are Selling

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced.

Trending Now