Oracle partners with Microsoft and Alphabet to boost cloud revenues, introduces new capabilities and gains clients

From Nasdaq: 2024-06-12 10:12:00

Oracle has expanded its partner base with key collaborations with Microsoft and Alphabet. This move is expected to boost the company’s cloud services and license revenues significantly, with a forecasted year-over-year growth of 35.4% for cloud services and license revenues in 2024.

Additionally, Oracle, Microsoft, and OpenAI have teamed up to extend the Microsoft Azure AI platform to Oracle Cloud Infrastructure, enhancing AI model development and deployment across industries.

Moreover, Oracle has partnered with Google Cloud to allow customers to combine OCI and Google’s technologies for accelerated application migrations, offering benefits like flexible migration options and a unified customer experience.

To boost its near-term prospects, Oracle has introduced new capabilities in various products like Oracle Grow and Clinical One Randomization and Trial Supply Management platform. These capabilities aim to enhance employee development, clinical trial processes, financial planning, and operational efficiency for customers.

Furthermore, Oracle’s expanding capabilities have attracted significant clients like Nomura Research Institute and Nordic Service Partners, showcasing the company’s growth potential and its ability to provide innovative solutions to various industries.

In terms of stock performance, Oracle’s shares have gained 17.5% year to date, outperforming the Computer and Technology sector. These developments reflect the positive impact of Oracle’s partnerships and new product offerings in driving growth and customer satisfaction.



Read more at Nasdaq: Oracle’s (ORCL) Expanding Partner Base to Boost Cloud Revenues