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Oracle's Cloud Efforts Receive A Much-Needed Validation

Benzinga ·  Jun 13 02:38

On Tuesday, Oracle Corporation (NYSE:ORCL) posted its fiscal fourth-quarter earnings that were below estimates. But, known for its database software, Oracle went all in to expand its cloud infrastructure unit to compete with Amazon.com Inc (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL). Therefore, to shift the focus away from weaker than anticipated financials, management emphasized new partnership with Microsoft, OpenAI and Google Cloud, along with discussing the growth avenue created by the AI hype. Oracle CTO Larry Ellison also noted that Oracle's cloud infrastructure and data centers are also being...

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