Oracle expects to benefit substantially from a boom in cloud investments in Q4 of the fiscal year 2022.
Oracle forecasts that companies will invest more in cloud services in the coming quarter. Many are taking their first steps in the cloud. Others want to increase support for hybrid working. Both require additional investments in cloud infrastructure and services.
Competing with AWS, Azure and Google Cloud
Therefore, Oracle plans to invest 3.6 billion euros ($4 billion) in the cloud this year. Most of the money is purposed for new data centers and improving cloud services. Oracle wants to further compete with AWS, Microsoft Azure and Google Cloud through Oracle Cloud Infrastructure (OCI) and underlying services.
Oracle’s announcement did well on the stock market. The price skyrocketed, in contrast to the recent decline that followed after presenting the figures for the third quarter of the fiscal year 2022.