Oracle ORCL is set to boost its research and development (R&D) capabilities in Morocco by expanding its local workforce to 1,000 information technology professionals. This investment aims to accelerate the development of ORCL’s advanced technologies, addressing customer challenges worldwide.
The expansion of Oracle’s R&D presence in Morocco aims to leverage the country’s deep talent pool to expedite the development of solutions that help global customers.
The expansion will empower young Moroccans to lead in designing and developing innovative solutions covering cutting-edge technologies, such as artificial intelligence (AI), big data, cloud computing and cybersecurity, strengthening Morocco’s position as a regional digital hub.
Oracle’s initiative follows the establishment of its Morocco Development Center facility at Casanearshore Park in Casablanca. Researchers at this center utilize ORCL’s cloud, AI and machine learning technologies to address pressing challenges across various sectors.
Approximately 40% of the new positions will be located outside the regions of greater Casablanca and Rabat-Salé-Kenitra, offering opportunities across the country, including new Oracle offices in Agadir this year and Northern Morocco in the next two years.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
ORCL’s AI Capabilities to Aid Cloud Services and License Revenues
The company has been making considerable advancements in AI. Some recent advancements include solutions like Oracle Code Assist, Oracle Database 23ai and NVIDIA NVDA AI Enterprise on Oracle Cloud Infrastructure (“OCI”).
ORCL has unveiled its latest innovation, Oracle Code Assist, an AI-driven code companion to revolutionize the development process. Leveraging large language models hosted on Oracle Cloud Infrastructure and tailored for Java, SQL and OCI application development, Oracle Code Assist promises developers to provide context-specific recommendations customizable to organizational standards and existing codebases.
Oracle Database 23ai marks a significant advancement in the company’s database technology, offering a comprehensive suite of cloud services that integrate AI capabilities seamlessly. With a focus on simplifying AI data utilization, expediting application development and supporting critical workloads, this long-term support release includes more than 300 new features.
The company recently announced the availability of NVIDIA AI Enterprise on OCI Supercluster in the Oracle U.S. Government Cloud region, aiming to address sovereign AI needs. This collaboration between Oracle and NVIDIA facilitates U.S. government clients in training and deploying AI solutions by providing access to OCI’s extensive services, including generative AI services powered by high-performance accelerators.
These are expected to aid the company’s cloud services and license revenues in the upcoming quarters.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and license revenues is pegged at $43.24 billion, indicating year-over-year growth of 22.5%. The Zacks Consensus Estimate for 2024 earnings is pegged at $5.58 per share, indicating year-over-year growth of 8.98%.
Shares of this Zacks Rank #3 (Hold) company have gained 10.6% year to date compared with the Zacks Computer and Technology sector’s growth of 12% due to tough competition from giants like Salesforce CRM and Microsoft MSFT in the AI cloud market. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Salesforce Sales Cloud helps businesses by automating tasks, finding potential customers and making communication better. It also has special features for governments to provide faster and more personalized services to citizens. CRM recently launched zero copy support for data warehouses and data lakehouses to help customers unlock their data, powering Customer 360 experiences with AI, automation and analytics.
Microsoft Cloud offers tools and solutions to help businesses adapt to changes. MSFT is investing heavily in Southeast Wisconsin to boost AI-powered economic growth, innovation and job opportunities. Additionally, the tech giant is establishing the country’s first AI co-innovation lab focused on manufacturing and launching an AI skilling initiative to train more than 100,000 residents in essential AI skills.
Oracle is always coming up with new ideas and investing in AI. This helps the company stay ahead of the competition in the AI cloud market. The partnership with NVIDIA also encourages a healthy competitive environment.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Salesforce Inc. (CRM) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Oracle Corporation (ORCL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
