Oracle invests more than $1 billion in AI, cloud computing in Spain By Reuters

(Reuters) – Oracle (NYSE:) said on Thursday it would invest more than $1 billion in artificial intelligence and cloud computing in Spain over the next 10 years to meet growing demand for its services there.

This investment will help establish new cloud regions where customers can move workloads from their data centers to Oracle Cloud Infrastructure, while also ensuring compliance with regulations such as the European Union’s Digital Operations Resilience Act (DORA) and the European Outsourcing Directive. no see. .

This will be Oracle’s third cloud region in Madrid, and the company is partnering with Telefonica (NYSE:) España for this project. The first cloud region opens in 2022.

“We are reaffirming our commitment to supporting Spanish organizations of all sizes and industries and accelerating the adoption of cloud technologies to increase business performance,” said Albert Triola, Country Leader, Oracle Spain.

“This investment will help Spanish businesses and public sector organizations innovate with AI and continue to move forward on the path to digital transformation,” said José Luis Escrivá, Spain’s Minister of Digital Transformation and Public Administration. said.

Last week, Oracle forecast its fiscal 2025 revenue would rise by double digits compared to analysts’ estimates, indicating strong demand for its AI-based cloud services.

The company also announced partnerships with ChatGPT maker OpenAI and Google (NASDAQ:) Cloud to extend its cloud infrastructure to customers.