Sources: 
Oracle is projecting a significant surge in its cloud infrastructure sales, expecting an increase of more than
70% in the fiscal year that began this month. This growth is largely fueled by the company's strategic focus on artificial intelligence (AI), which has sparked strong investor enthusiasm and boosted its share prices in late trading.
Traditionally known for its database software, Oracle has been aggressively expanding its cloud computing business, which involves renting out computing power and storage. The company is targeting clients engaged in AI work, positioning itself as a major player in the competitive cloud market.
A key element of Oracle's AI push is its joint venture named
Stargate, announced earlier this year, which aims to provide OpenAI with massive computing resources. This partnership underscores Oracle's commitment to supporting AI development and leveraging its cloud infrastructure capabilities.
"Projected cloud infrastructure sales will jump more than 70% in the fiscal year," a development that has excited investors and reflects the growing demand for cloud services tailored to AI workloads.
Oracle's cloud strategy highlights the increasing importance of AI in driving cloud adoption and revenue growth, as companies seek scalable and powerful computing solutions to support advanced AI applications.
This surge in cloud sales not only marks a pivotal shift for Oracle but also signals broader trends in the technology sector, where AI integration is becoming a critical factor in cloud service offerings.
Sources: Oracle forecasts a more than 70% surge in cloud infrastructure sales for the current fiscal year, driven by its AI-focused strategy. The company’s shares rose on investor enthusiasm as it expands its cloud computing business, including a joint venture with OpenAI to supply substantial computing power.
