Oracle recently announced a significant investment of over $1 billion in Spain over the next decade to expand its presence in artificial intelligence and cloud computing. This move comes as Oracle aims to cater to the increasing demand for its services in the country. The investment will predominantly focus on establishing a new cloud region, enabling customers to transition workloads from their data centers to Oracle Cloud Infrastructure. This development aligns with compliance requirements such as the Digital Operational Resilience Act (DORA) of the European Union and the European Outsourcing Guidelines. Oracle’s collaboration with Telefónica Spain will facilitate the deployment of the third cloud region in Madrid, with the first region scheduled to launch in 2022.
Albert Triola, Oracle Spain’s national leader, emphasized the company’s dedication to supporting organizations in Spain across various sectors and sizes. The investment aims to drive the adoption of cloud technologies, enhancing business performance and fostering innovation with AI. José Luis Escrivá, Spain’s Minister of Digital Transformation and Public Administration, acknowledged the significance of Oracle’s investment in enabling Spanish companies and public institutions to continue their digital transformation journey.
Oracle’s optimistic outlook for fiscal 2025 highlights anticipated revenue growth in double digits, surpassing analyst expectations. This growth projection reflects the strong market demand for Oracle’s AI-powered cloud services. In addition to its internal development efforts, Oracle has also expanded its cloud offerings through strategic partnerships with prominent entities like OpenAI and Google Cloud. These collaborations aim to further extend Oracle’s cloud infrastructure capabilities to clients, ensuring a comprehensive and competitive suite of services. Oracle’s investments and partnerships underscore its commitment to innovation, growth, and meeting the evolving needs of its customers in an increasingly digital landscape.
Article Source
https://www.investing.com/news/stock-market-news/oracle-to-invest-over-1-billion-on-ai-cloud-computing-in-spain-3490644
