Published on 18 Apr 2024 on Zacks via Yahoo Finance
Oracle (ORCL) to Invest More Than $8B in Cloud Computing & AI
Oracle ORCL has announced its intention to invest more than $8 billion over the next decade to meet the growing demand for cloud computing and artificial intelligence (AI) infrastructure in Japan. This investment aims to expand the presence of Oracle Cloud Infrastructure (“OCI”) throughout Japan. Additionally, the company plans to grow its operations and support engineering teams in Japan to assist customers and partners with digital sovereignty requirements.To address the needs of customers and partners in Japan, ORCL will enhance local customer support for its public cloud regions in Tokyo and Osaka. It will also expand its local operations teams for services like Oracle Alloy and OCI Dedicated Region. These efforts aim to facilitate the transition of critical workloads to OCI, allowing the Japanese government and businesses to adopt sovereign AI solutions securely.The company's sovereign cloud and AI services will be available within Japan's borders or on-premises for organizations, offering various operational controls for security. Oracle distinguishes itself as the sole hyperscaler capable of delivering AI and a comprehensive suite of more than 100 cloud services locally and anywhere.Shares of this Zacks Rank #3 (Hold) company have gained 12.6% year to date compared with the Zacks Computer and Technology sector’s growth of 6.1%. This outperformance was due to ORCL’s alignment in understanding customer needs. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oracle Corporation Price and Consensus
