Oracle announces billion-dollar investment in AI and cloud computing in Spain

SAP competitor plans to invest over one billion dollars in AI and cloud computing in Spain – Telefónica España as a cooperation partner.

6/22/2024, 3:18 PM
Eulerpool News Jun 22, 2024, 3:18 PM

Oracle plans to invest more than one billion dollars in artificial intelligence (AI) and cloud computing in Spain over the next ten years. The SAP competitor is responding to the increasing demand for its respective services.

The major project is being implemented in collaboration with Telefónica España, as Oracle announced on Thursday. The goal is to significantly promote digitalization and the use of AI technologies in Spain.

José Luis Escrivá, the Spanish Minister for Digital Transformation, welcomed the announcement and emphasized that this investment would significantly help businesses and public institutions in the country to advance the use of AI and strengthen Spain's technological competitiveness.

With this step, Oracle aims to further expand its presence in the European market and position itself as a leading provider of cloud and AI solutions. The company views its collaboration with Telefónica España as a strategic partnership intended to accelerate the implementation of modern technologies across various sectors.

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