- Oracle will invest more than $1 billion in artificial intelligence and cloud computing in Spain over the next 10 years.
- The investment will be used to set up a new cloud region that will allow customers to move workloads from their data centers to Oracle Cloud Infrastructure.
OUR TAKE
These investments will help Spain to make better use of AI technologies in various sectors and drive the overall development of innovation and digital transformation. This marks Oracle’s important global contribution to advancing technology and data security, especially in the handling and protection of sensitive and strategically important data.
–Revel Cheng, BTW reporter
Oracle said it will invest more than $1 billion in artificial intelligence and cloud computing in Spain over the next 10 years on Tuesday.
What happened
Oracle, opens new tab on Thursday said it will invest more than $1 billion over the next 10 years in artificial intelligence and cloud computing in Spain, as it looks to meet increasing demand for its services in the country.
The investment will be used to set up a new cloud region that will allow customers to move workloads from their data centers to Oracle Cloud Infrastructure, while also helping them address regulations like the European Union’s Digital Operational Resilience Act (DORA) and the European Outsourcing Guidelines.
“We are reaffirming our commitment to helping Spanish organizations of all sizes and industries” and accelerate the adoption of cloud technologies to boost business performance, said Albert Triola, country leader, Oracle Spain.
This will be Oracle’s third cloud region in Madrid and the company will partner with Telefonica España for the project. The first cloud region was opened in 2022.
Also read: Oracle expects revenue growth for fiscal 2025 on strong AI demand
Also read: 2 benefits of Oracle Cloud Infrastructure Transit Routing
Why it’s important
Last week, Oracle forecasted that fiscal 2025 revenue will grow in double digits, exceeding analysts’ estimates, which indicates strong demand for its AI-powered cloud services.
The company also announced partnerships with ChatGPT-maker OpenAI and Google Cloud, opens new tab to extend its cloud infrastructure to customers.
“The investment…will help Spanish enterprises and public sector organizations innovate with AI and continue advancing on the path of digital transformation,” said José Luis Escrivá, Spain’s minister for digital transformation and public administration.
Oracle also offers a separate EU Sovereign Cloud with one region in Madrid to help public and private sector customers with data and applications that are sensitive, regulated, or of strategic regional importance, move to the cloud. The Oracle EU Sovereign Cloud in Madrid is operated by EU-based personnel and supports workloads that fall under EU guidelines and requirements for sovereignty and data privacy.
Investing in the expansion of AI and cloud services not only demonstrates Oracle’s leadership in technological innovation and market demand, but also highlights its important role in supporting global digital transformation.
