Oracle announced that it will invest over $1 billion in artificial intelligence and cloud computing in Spain, with plans to establish a new cloud region in Madrid. This investment aims to help Spanish organizations migrate workloads to Oracle Cloud Infrastructure and comply with regulations such as the European Union’s Digital Operational Resilience Act. The company will partner with Telefónica Spain for this project, with the first cloud region set to open in 2022. Oracle’s national leader in Spain emphasized the goal of accelerating cloud technology adoption among businesses, while Spain’s Minister of Digital Transformation and Public Administration highlighted the potential for innovation with AI. The company is forecasting double-digit revenue growth by fiscal 2025, indicating strong demand for its AI-powered cloud services. Oracle has also announced partnerships with OpenAI and Google Cloud to expand its cloud infrastructure offerings to customers.
Article Source
https://finance.yahoo.com/news/oracle-invest-over-1-billion-170719753.html
Oracle to pour more than $1 billion into AI and cloud computing initiatives in Spain
