Oracle to Invest More Than $1B in AI and Cloud Computing in Spain
To meet the increasing demand for cloud computing and AI services, Oracle announced that it will invest more than $1 billion in artificial intelligence and cloud computing over the next ten years.
This investment will be utilized to build a new cloud region that will focus on workload migrations from clients’ data centers to Oracle Cloud Infrastructure. It will also guide clients in compliance with regulations like the European Outsourcing Guidelines and the Digital Operational Resilience Act (DORA) of the European Union.
In addition, Oracle will work with Telefonica España on this initiative that will be its third cloud region in Madrid. Also, in 2022, the first cloud region was opened for business.
“We are reaffirming our commitment to helping Spanish organizations of all sizes and industries, “Said, Albert Triola. As per Jose Luis Escrive, Spain minister for digital transformation and public administration assure that the invest will help Spanish business and public sector organizations innovate with AI and continue advancing on the path of digital transformation.
Also, Oracle last week predicted double-digital growth in fiscal 2025 revenue, exceeding analyst projections, demonstrating a high demand for its cloud services driven by artificial intelligence. Also, in addition, the firm announced collaborations with Open AI, the startup that makes Google Cloud (GOOGL.O) and ChatGPT, opening a new tab to expand its cloud infrastructure to its clients.
Moreover, recently, Microsoft launched a Madrid cloud region central, which was part of the company’s commitment to invest $ 2.1 billion in Spain between 2024 and 2025. This cloud region was also developed in partnership with Telefónica. Also, the cloud giant has since committed to investing $7.16bn in new data centers in Aragon, Spain.
