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Current price of oil as of June 16, 2026

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'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream

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Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
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Larry Ellison once predicted ‘citizens will be on their best behavior’ amid constant recording. Now his company will pay a key role in social media

Jason Ma
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Jason Ma
Jason Ma
Weekend Editor
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Jason Ma
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Jason Ma
Jason Ma
Weekend Editor
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September 28, 2025, 1:17 PM ET
Larry Ellison (right) and President Donald Trump in the Roosevelt Room of the White House on Jan. 21.
Larry Ellison (right) and President Donald Trump in the Roosevelt Room of the White House on Jan. 21.Andrew Harnik—Getty Images
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A year ago, Oracle cofounder and chairman Larry Ellison described a future where everyone, including law enforcement, will face regular surveillance as daily life is documented seemingly nonstop.

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At Oracle’s financial analyst meeting last September, he predicted artificial intelligence will help process the vast amounts of footage recorded by cameras placed on everything from car dashboards and front doors to security systems and cops.

“We’re going to have supervision,” Ellison said. “Every police officer is going to be supervised at all times, and if there’s a problem, AI will report that problem and report it to the appropriate person. Citizens will be on their best behavior because we are constantly recording and reporting everything that’s going on.”

Those comments have gained fresh relevance now that his company has emerged as a major player in the AI industry and is poised to play a critical role in the deal for TikTok’s U.S. operations. TikTok’s video-sharing platform is among the most popular social media properties in the country.

Oracle didn’t immediately respond to a request for comment.

The company has been an AI infrastructure provider and stunned Wall Street earlier this month by reaching a $300 billion deal with OpenAI, which will purchase computing power over about five years in one of the largest cloud contracts ever signed.

And earlier this week, OpenAI signed deals with SoftBank and Oracle for new data centers as part of the massive Stargate project.

In its most recent quarterly earnings call with analysts, management also offered revenue projections that cited $455 billion in contracts, up 359% from a year earlier. CEO Safra Catz revealed that Oracle landed deals with three different customers during the quarter.

Meanwhile, Oracle is expected to be among the companies that will buy TikTok’s U.S. business from Chinese parent company ByteDance. In addition, Oracle will spearhead U.S. oversight of the algorithm and security.

President Donald Trump on Thursday afternoon signed an executive order clearing the way for a deal to put TikTok in U.S. hands. The U.S. ownership structure is still being finalized, but Trump said Oracle and Ellison would play a “big” role in managing the app, while conservative media mogul Rupert Murdoch and computer billionaire Michael Dell would sit on the board. Trump hinted that three more “blue-chip” backers are also part of the ownership group.

Vice President JD Vance said that the algorithm will be “under the control of American investors,” adding that more details would be forthcoming. 

Reports earlier this week said Oracle will re-create TikTok’s algorithm and provide a new U.S. version while also ensuring security for users’ data.

“This deal will allow for the U.S. to control the app’s algorithm,” Vance said. “It’s actually going to be American-operated all the way.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

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