Oracle Surges 36% on NYSE, Overtakes Klarna's Major Listing

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Oracle Surges 36% on NYSE, Overtakes Klarna's Major Listing
Photo: Richard Drew/AP/TT

It was a mixed bag on the New York stock exchange's leading indexes on Wednesday. Swedish Klarna stood for the year's largest listing – but Oracle stole the show. The software giant surged 36 percent and the founder Larry Ellison passed Elon Musk as the world's richest.

The broad S&P 500 index rose 0.3 percent, Nasdaq's technology-heavy composite index was unchanged and the Dow Jones industrial index fell 0.5 percent.

Software giant Oracle soared upwards by 36 percent to a new record level. Founder Larry Ellison became the world's richest man in the process, pushing Tesla CEO Elon Musk off the throne after 300 days, according to Bloomberg's billionaire index. The news agency estimates Ellison's wealth at $393 billion.

The Wall Street Journal reports, citing sources, on a giant deal between Oracle and Open AI worth $300 billion over five years.

Semiconductor manufacturer Broadcom also soared, up 9.8 percent. Competitor Nvidia, the world's highest-valued company, closed up 3.9 percent.

Software developer Synopsys went in the opposite direction and plummeted 36 percent. Tech giants Apple and Amazon were also among the losers, down 3.2 and 3.3 percent, respectively.

For the day, there was also a Swedish presence in one of the main roles. Payment giant Klarna was listed on the New York Stock Exchange and the stock initially soared by 30 percent. The rally subsided, but the stock was traded at closing for $46, just over 15 percent above the introduction price of $40.

Over 34 million Klarna shares were sold for around $1.37 billion, making Klarna's the most profitable listing on Wall Street in 2025, reports news agency AP, citing Renaissance Capital.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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