Riding the AI wave: Oracle's Cloud Infrastructure Business on the Rise
Riding the AI Wave
Oracle has positioned its cloud infrastructure business to go after artificial intelligence workloads. Demand for AI computing capacity is soaring, driven by both established companies and an ever-increasing number of AI start-ups. Oracle's cloud infrastructure revenue shot up 49% year over year in the third quarter to $1.8 billion, growing more than three times as quickly as the company's cloud software business.
Slow Growth Elsewhere
Oracle's progress winning AI workloads and growing its cloud infrastructure business impressed investors in March. However, sluggish growth was observed in other areas such as cloud license revenue, hardware revenue, and services revenue. While some segments like cloud application software revenue saw growth, total revenue growth remained modest compared to other cloud giants.
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