LAS VEGAS - In a significant move for cloud computing and database management, Oracle and Google (NASDAQ:GOOGL) Cloud have announced the general availability of Oracle Database services within Google Cloud regions. This collaboration marks a milestone in multicloud strategies, enabling customers to deploy Oracle's database services directly in Google Cloud datacenters.
As of today, the services are available in four regions across the United States and Europe, with plans to expand to additional regions globally in the coming months. This integration allows for the direct access to Oracle Exadata Database Service, Oracle Autonomous Database, and Oracle Database Zero Data Loss Autonomous Recovery Service on Oracle Cloud Infrastructure (OCI) in Google Cloud.
The partnership aims to facilitate cloud migration and innovation for customers by leveraging Oracle's database technologies alongside Google Cloud's analytics and artificial intelligence tools. Customers can now run applications on Oracle Linux, supported by Oracle on Google Cloud, and soon streamline Oracle Linux image provisioning in Google Compute Engine.
Adam Fayne, Vice President of Enterprise Engineering at Dun & Bradstreet, highlighted the benefits of combining Oracle Database's performance with Google Cloud's analytics and AI tools for processing and analyzing large datasets.
According to Carl Olofson, Research Vice President at IDC, the collaboration enables customers to combine Oracle databases with Google Cloud services to develop a new generation of cloud-native applications, benefiting from the automation of Oracle Autonomous Database and the performance of Exadata on OCI.
The Oracle Database@Google Cloud service simplifies the purchase and management of cloud services, allowing customers to use their existing Google Cloud commitments and Oracle license benefits. The service integrates with Google Cloud's console, APIs, and operations, and offers simplified purchasing through the Google Cloud Marketplace.
Karan Batta, Senior Vice President at Oracle Cloud Infrastructure, and Andi Gutmans, Vice President and General Manager of Databases at Google Cloud, both emphasized the seamless multicloud experience provided by this service, which combines the AI and database capabilities of Oracle with the infrastructure and AI offerings of Google Cloud.
This collaboration is based on a press release statement and is designed to accelerate cloud migration, simplify management, and enhance the development of transformative AI-driven applications.
In other recent news, Oracle and Amazon (NASDAQ:AMZN) Web Services (AWS) have unveiled a strategic collaboration to launch Oracle Database@AWS, a service aimed at streamlining the migration and management of enterprise workloads to the cloud. The service, which merges Oracle's database technology with AWS's scalable platform, is expected to be available later this year. In financial news, Oracle is set to release its first-quarter earnings report, with TD Cowen projecting a quarter in line with expectations and about 7% constant currency growth.
Oracle co-founder Larry Ellison is also set to gain control of Paramount Global following Skydance Media's acquisition of the Redstone family's stake in the film and television company, offering $4.5 billion in cash or stock to Paramount shareholders. The company has received reaffirmed Buy ratings from TD Cowen, Deutsche Bank (ETR:DBKGn), Edward Jones, and Mizuho, with Bernstein reiterating an Outperform rating, highlighting Oracle's strategic shift towards cloud services.
On the legal front, Oracle has settled a privacy lawsuit for $115 million, while TikTok is contesting the U.S. Department of Justice's mandate for its parent company, ByteDance, to divest its U.S. operations, asserting that its user data is securely stored on U.S.-based Oracle cloud servers. These are the recent developments in the ongoing operations of Oracle Corporation (NYSE:ORCL).
InvestingPro Insights
Oracle Corporation (NYSE:ORCL) has recently made headlines with its strategic partnership with Google Cloud, aiming to enhance cloud database services. Here are some key insights and data points from InvestingPro that shed light on Oracle's financial health and market position:
InvestingPro Data highlights Oracle's substantial market capitalization of approximately $385.57 billion, reflecting its significant presence in the technology sector. The company's P/E Ratio stands at 36.89, which is above the industry average, indicating that investors are willing to pay a premium for Oracle's shares based on its earnings. Additionally, Oracle's revenue for the last twelve months as of Q4 2024 is reported at $52.96 billion, with a growth rate of 6.02%, showcasing the company's ability to increase its sales in a competitive market.
An InvestingPro Tip to consider is Oracle's consistent dividend track record, having raised its dividend for 10 consecutive years and maintained payments for 16 years. This demonstrates the company's commitment to returning value to its shareholders and its financial stability to do so over an extended period.
Another InvestingPro Tip is that Oracle is trading at a high earnings multiple and a high P/E ratio relative to near-term earnings growth. While this could suggest that the stock is valued optimistically by the market, it also reflects investor confidence in Oracle's future performance, especially given its role as a prominent player in the software industry.
For those interested in a deeper analysis, InvestingPro offers additional tips on Oracle's financial metrics and future outlook. Visit https://www.investing.com/pro/ORCL to explore further insights and make more informed investment decisions.
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