Oracle to invest over $1 billion on AI, cloud computing in Spain

Oracle on Thursday acknowledged this will make investments bigger than $1 billion over the next 10 years in synthetic intelligence and cloud computing in Spain, as it appears to be like to be to be like to meet growing ask for its services in the nation.

The funding will seemingly be extinct to whine up a new cloud station that might enable prospects to transfer workloads from their records services to Oracle Cloud Infrastructure, whereas also helping them address guidelines admire the European Union’s Digital Operational Resilience Act (DORA) and the European Outsourcing Pointers.

This would maybe be Oracle’s third cloud station in Madrid and the firm will partner with Telefonica España for the venture. The major cloud station changed into once opened in 2022.

“We’re reaffirming our dedication to helping Spanish organizations of all sizes and industries” and tempo up the adoption of cloud technologies to raise enterprise efficiency, acknowledged Albert Triola, nation leader, Oracle Spain.

“The funding…will support Spanish enterprises and public sector organizations innovate with AI and continue advancing on the scoot of digital transformation,” acknowledged José Luis Escrivá, Spain’s minister for digital transformation and public administration.

Oracle closing week forecast fiscal 2025 revenue to grow in double digits, above analysts’ estimates, indicating stable ask for its AI-powered cloud services.

The firm also announced partnerships with ChatGPT-maker OpenAI and Google Cloud to develop its cloud infrastructure to prospects.