To meet the massive demand for its cloud infrastructure services, Oracle Corporation plans to invest $10 billion in capital expenditures (CapEx), up from the $6.7 billion investment into data center build outs in 2022. The sizable increase reflects the sustained and continued growth of its Oracle Cloud Infrastructure (OCI) business, which represented $1 billion in revenue for the company’s fiscal year 2023 Q2. With its brisk pace of spending, it’s clear the company doesn’t see an immediate end to its cloud infrastructure growth.
Oracle CEO Safra Catz revealed the CapEx costs and announced strategies in the company’s December 2022 earnings call. The …
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