Oracle’s AI Growth Surge
Oracle (NYSE: ORCL), a nearly 50-year-old leader in database management, has seen a drastic shift towards artificial intelligence (AI) in recent years. Its push into the cloud since 2016 has fueled growth, with multicloud database revenue soaring more than 500% year over year in the latest quarter, driven by increased customer demand surpassing supply.
Key decisions made by Oracle in 2019, such as forging partnerships with tech giants like Microsoft Azure, Amazon AWS, and Google Cloud, have positioned the company to leverage its services across multiple platforms. Currently, Oracle operates in 8 AWS regions, aiming to expand to 22, while also having 33 regions with Microsoft and 14 with Google. This multicloud strategy enables customers to utilize Oracle’s databases seamlessly, unlocking significant revenue potential as businesses increasingly adopt AI technologies.
