Oracle to Invest Over $1 Billion in Third Cloud Region in Spain
By Sabela Ojea
Oracle said it is investing more than $1 billion over the next ten years in a third cloud region in Madrid to meet growing demand for its AI and cloud computing services in Spain.
The cloud-software provider on Thursday said Spanish telecommunications company Telefonica España will be the host partner for the planned cloud region.
The company announced its first cloud infrastructure region in Madrid less than two years ago.
"We are reaffirming our commitment to helping Spanish organizations of all sizes and industries --including those across Spain's small and medium-sized enterprises and the financial services industry-- accelerate their adoption of cloud technologies to boost business performance and resilience," said Albert Triola, head of Oracle Spain.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
June 20, 2024 12:40 ET (16:40 GMT)
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