Google (GOOGL, Financial) has appointed Kobi Bar Nathan as the new Chief Financial Officer (CFO) for its cloud division, poaching him from Oracle (ORCL). This move is likely to intensify competition in the cloud computing sector. Bar Nathan previously held a similar role at Oracle and has also worked on cloud finance at Microsoft (MSFT).
Google and Oracle are emerging as strong contenders in the competitive cloud market. According to Synergy Research Group, Google ranks third and Oracle fifth in market share, trailing behind Amazon (AMZN) and Microsoft. Notably, Google Cloud's current CEO, Thomas Kurian, also came from Oracle after disagreements over cloud strategy with Oracle Chairman Larry Ellison.
Google Cloud has become a bright spot for the company, consistently exceeding analyst expectations in operating profits after years of losses. Despite lagging behind Amazon and Microsoft in market share, Google is investing heavily in its cloud business, given its pivotal role in the company's overall AI strategy.
Similarly, Oracle is expanding its influence by focusing on AI clients. Earlier this year, Oracle announced a joint venture with OpenAI, named "Stargate," to provide massive computing power.
