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Oracle Corp. (ORCL) is experiencing significant growth in its cloud services, projecting revenue to reach $144 billion by 2029. This comes after the company recently added $400 billion to its market capitalization, following a positive earnings report.
Oracle’s approach integrates some computing infrastructure at customer locations while offloading less sensitive data to its Oracle Cloud Infrastructure (OCI). This hybrid model caters to firms like OpenAI, allowing them to manage sensitive data more securely.
The company currently has $455 billion in potential contracts, positioning it as a more innovative competitor in the AI space compared to legacy firms like Amazon and Alphabet.
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