Hyderabad, Oracle is negotiating a multi-year cloud computing deal worth approximately $20 billion with Meta. Under this agreement, Oracle will provide Meta with computing capacity for training and implementing artificial intelligence (AI) models. This facility will be in addition to Meta’s existing cloud services.
Oracle Cloud technology offers integrated services and flexible deployment models capable of meeting various customer requirements. This potential agreement comes at a time when OpenAI has contracted to purchase nearly $300 billion worth of computing power from Oracle.
Oracle has already partnered with Amazon, Alphabet (Google), and Microsoft, enabling their cloud customers to run Oracle Cloud infrastructure alongside existing cloud services. These partnerships have resulted in a sixteen-fold increase in revenue in the previous quarter.
Also read…
Last week, Oracle announced four multi-billion dollar contracts, reflecting the growing trend among companies to secure AI computing capacity in the industry. Oracle stated that several more multi-billion dollar customers could join the platform in the coming months, and their Oracle Cloud infrastructure business is likely to have booked revenue exceeding half a trillion dollars.
