Oracle to invest over $1B in AI, cloud computing in Spain

Oracle (ORCL) announced plans to invest more than $1billion to open a third cloud region in Madrid and drive AI skills development across Spain. The new public cloud region will enable Oracle customers and partners across all industries in Spain, including its prominent financial services sector, to migrate mission-critical workloads from their data centers to Oracle Cloud Infrastructure while helping them address regulations like the Digital Operational Resilience Act and the European Outsourcing Guidelines. Telefonica Espana (TEF) will be the host partner for the planned cloud region. The upcoming cloud region in Madrid will help public and private sector organizations migrate all types of workloads to the cloud, modernize their applications, and innovate with data, analytics, and AI. Oracle is the only hyperscaler capable of delivering AI and a full suite of 100+ cloud services across dedicated, public, and hybrid cloud environments, anywhere in the world. This includes Oracle Autonomous Database, MySQL HeatWave Database Service, Oracle Container Engine for Kubernetes, Oracle Cloud VMware Solution, OCI Generative AI service, and OCI AI Infrastructure. “The opening of the third Oracle cloud region in Spain is excellent news for our country,” said Jose Luis Escriva, minister for digital transformation and public administration, Government of Spain. “The investment announced by Oracle provides a significant boost that will help Spanish enterprises and public sector organizations innovate with AI and continue advancing on the path of digital transformation.”