Welcome back to In the Loop, new twice-weekly newsletter about AI. If you're reading this in your browser, why not subscribe to have the next one delivered straight to your inbox? When you think about the top echelon of the world's tech elites, Larry Ellison probably doesn't spring to mind. But on Wednesday, the 81-year-old chairman of Oracle briefly became the richest person in the world with a net worth of almost $400 billion, overtaking Elon Musk. Ellison's $100-billion jump was the biggest single-day gain ever, and the result of a promising Oracle growth forecast in which they advertised hundreds of billions of dollars in inbound revenue from AI companies using Oracle's cloud computing capabilities.

AI tools have become deeply embedded in how many students learn and complete schoolwork--and that usage is only poised to increase. On Tuesday, the American Federation of Teachers announced an AI training hub for educators, backed by 23 million from Microsoft, OpenAI, and Anthropic. The AFT is the second-largest teachers' union, representing 1.8 million teachers and educational staffers across the country. Their training hub will open in New York City this fall, featuring workshops that will educate teachers on how to use AI tools for tasks like generating lesson plans and quizzes, or writing emails to parents. Microsoft is providing 12.5 million for AI teacher training over the next five years.