Billionaire Larry Ellison made headlines recently with his support for the Stargate project, a $500 billion artificial intelligence infrastructure initiative championed by President Trump. The Oracle founder’s involvement in Stargate could potentially pave the way for the merger between Paramount Global and Skydance Media, according to insider sources.
Ellison’s appearance alongside President Trump at the White House to announce the Stargate deal drew attention from the tech world. However, Tesla CEO Elon Musk quickly cast doubt on the project, questioning the amount of secured funding. Despite this, Ellison’s substantial net worth of $205 billion adds weight to his endorsement of Stargate.
The significance of Ellison’s backing of Stargate extends to his son David’s company, Skydance Media. The merger between Skydance Media and Paramount Global faces regulatory hurdles, with Federal Communications Chair Brendan Carr expressing concerns about the deal. Paramount’s ownership of CBS has also raised issues regarding alleged bias in the 2024 Presidential election.
In a strategic move, Paramount is reportedly considering settling a $10 billion lawsuit filed by President Trump to smooth the path for the merger. Ellison’s public support for Stargate at the White House event is seen as a calculated move to bolster Skydance Media’s position in the merger process.
Media investor Daphna Ziman’s Project Rise Partners consortium is gearing up to submit a competitive bid for Paramount. However, Skydance Media currently holds a binding agreement with Paramount, which can only be terminated if regulatory authorities intervene.
The involvement of Chinese company Tencent in the merger has raised concerns about foreign influence on Paramount and CBS. US Rep. John Moolenaar has called for a review by the Committee on Foreign Investment in the United States (CFIUS) to assess the potential impact of Tencent’s stake in the combined entity.
Despite the regulatory challenges, Ellison’s support for Stargate and the merger between Paramount and Skydance remains unwavering. The $500 billion AI project announced by Oracle, OpenAI, and SoftBank signals a new era of technological advancement. Ellison emphasized the potential of AI in healthcare, citing early cancer detection and personalized vaccine development as key applications.
The complex web of alliances and deals involving Ellison, Redbird Capital, Shari Redstone’s National Amusements, Paramount, and Skydance Media underscores the intricate landscape of media and technology mergers. As the industry evolves, the future of Paramount and Skydance Media hangs in the balance, with investors closely watching developments in the coming months. The COVID-19 pandemic has brought about a surge in online shopping as people have been forced to stay at home and practice social distancing. With the closure of many brick-and-mortar stores, consumers have turned to e-commerce platforms to purchase essential items, clothing, electronics, and more.
One of the biggest advantages of online shopping during the pandemic is the convenience it offers. Consumers can browse through a wide range of products from the comfort of their own homes and make purchases with just a few clicks. This eliminates the need to physically go to a store, wait in long lines, and risk exposure to the virus.
Online shopping also provides consumers with a greater selection of products compared to traditional retail stores. With the ability to shop from multiple retailers at once, consumers have access to a wider variety of brands, styles, and price points. This allows them to find the best deals and make informed purchasing decisions.
Another benefit of online shopping during the pandemic is the availability of contactless delivery options. Many e-commerce platforms now offer contactless delivery services to ensure the safety of both customers and delivery personnel. This minimizes physical contact and reduces the risk of spreading the virus.
Additionally, online shopping allows consumers to easily compare prices and read reviews before making a purchase. This helps them make informed decisions and ensures they are getting the best value for their money. Many e-commerce platforms also offer discounts, promotions, and free shipping, making online shopping even more appealing during these uncertain times.
Despite the many benefits of online shopping, there are some drawbacks to consider. One of the main concerns is the potential for delays in shipping and delivery due to the high demand for online shopping during the pandemic. This can be frustrating for consumers who are in need of essential items or are looking to receive their purchases quickly.
Furthermore, there is a risk of scams and fraudulent activities when shopping online. Consumers should be cautious and only purchase from reputable websites to avoid falling victim to online scams. It is important to do thorough research and read reviews before making a purchase to ensure the legitimacy of the seller.
In conclusion, online shopping has become a popular and convenient option for consumers during the COVID-19 pandemic. It offers a wide range of products, contactless delivery options, and the ability to compare prices and read reviews. However, consumers should remain cautious and practice safe online shopping habits to avoid potential risks and scams.
