Oracle Corporation (ORCL, Financial) has announced a forecasted 15% sales growth for the next fiscal year, driven by the expansion of its cloud services and investments in artificial intelligence (AI). This projection surpasses analysts' expectations of a 12.6% growth, according to data from the London Stock Exchange Group (LSEG).
Oracle is integrating AI into its cloud solutions and developing its data center infrastructure to compete with industry giants like Microsoft and Amazon. These efforts aim to enhance Oracle's market share in the cloud services sector.
Additionally, Oracle is involved in the Stargate project, a significant AI infrastructure initiative with investments from a consortium including SoftBank and OpenAI. The project represents a substantial commitment to AI, with investments reaching up to $500 billion.