US Markets
Monday, April 29th, 2024 2:51 pm EDT
Key Points
- Oracle is enhancing its generative AI capabilities to meet the increasing demand for cloud computing services and data centers, driven by the AI boom initiated by innovations like ChatGPT.
- The integration of generative AI features across various sectors such as finance, supply chain, and human resources aims to boost productivity and reduce business costs. Oracle’s strategic focus on AI has been praised by analysts, positioning the company as a major beneficiary of the AI revolution.
- Despite lagging behind competitors like Amazon, Microsoft, and Google in cloud infrastructure service market share, Oracle’s AI technology has gained traction, with CEO Safra Catz highlighting significant growth in cloud revenue. Oracle’s investments in cloud infrastructure, including partnerships with companies like Nvidia, underscore its commitment to delivering cutting-edge AI solutions globally.
Oracle is ramping up its generative AI capabilities in response to the surging demand for cloud computing services and data centers, driven by the AI boom catalyzed by innovations like ChatGPT. By integrating generative AI features across its applications in various sectors like finance, supply chain, and human resources, Oracle aims to enhance productivity and reduce costs for businesses. The company’s strategic focus on AI has been praised by analysts like Dan Ives, who sees Oracle poised to capitalize on the AI revolution, leveraging its vast data and installed base advantage. While Oracle initially trailed behind competitors like Amazon, Microsoft, and Google in cloud infrastructure market share, the rising demand for AI technology has positioned Oracle as a key player in the evolving cloud landscape. CEO Safra Catz highlighted significant growth in cloud revenue, with promising prospects for AI-driven revenue in the future. Oracle’s expansion plans include building data centers capable of accommodating large-scale operations and negotiating sovereign regions with various countries. Additionally, partnerships with companies like Nvidia further reinforce Oracle’s commitment to delivering cutting-edge AI solutions globally, signaling a strategic alignment with the evolving needs of the market.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/04/29/oracle-boosts-generative-ai-capabilities-as-cloud-competition-intensifies.html
