Update: 8:54AM AFTER the longest and fastest regatta in history, Australian James Spithill and his team on Oracle Team USA have won the America's Cup after a miraculous comeback which has rewritten history.
The famous sailing regatta was won by the Larry Ellison-backed Oracle, the America's Cup defenders, when they beat Emirates Team New Zealand by 44 seconds on the waters of San Francisco Bay.
It signalled the end of almost three weeks of thrilling racing in the high-speed AC72 chosen as the weapon of choice in the battle for the 34th America's Cup.
"Good one guys," Spithill said to his crew as he steered across the finish.
It was also the eighth straight win by Spithill and his team which includes Australians Tom Slingsby, Joey Newton and Kyle Langford.
The teams went into the final race deadlocked after Spithill and his team staged a stunning comeback to move from 8-1 down to level the series.
"We can win this," said Spithill a week ago when New Zealand needed just a single win to claim the America's Cup.
The final race proved him right.
The win means the America's Cup will likely stay in the US, the home of software billionaire Ellison.
The US team will be able to decide the terms of the next America's Cup and where and when it will be held.
They will also determine the boats the America's Cup battle will be fought out in.
The New Zealanders took control of the race early and lead at the first and second gates by just seconds.
Oracle then took the lead in a thrilling battle on flat water and in winds close to 20 knots.
Not to be outdone the New Zealanders again took the lead before Oracle crossed ahead of them three times in quick succession.
Oracle then held position until they crossed the finish line.