article thumbnail

Oracle expects data-hungry generative AI to drive revenue growth

CIO Business Intelligence

As of today, AI development companies have signed contracts to purchase more than $4 billion of AI training capacity in Oracle’s Generation 2 cloud. Net income for the quarter rose 56% year-on-year to $2.4 “Generative AI is changing everything. For the first quarter of fiscal year 2024, Oracle posted a total revenue of $12.5

Oracle 121
article thumbnail

Oracle touts AI as major driver of Q3 gains

CIO Business Intelligence

Oracle’s latest financial report boasts substantial increases in revenue, net income, and earnings per share, largely thanks to cloud sales, which the company was quick to credit to the rise of AI. Despite the fact that we are opening new and expanding existing cloud data centers very, very rapidly.”

Oracle 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Rackspace’s CTO takes a broad view of sustainability

CIO Business Intelligence

Srini Koushik has been passionate about the environment for 35 years and now, as a board member of the nonprofit SustainableIT.org and CTO of cloud services provider Rackspace Technology, he wants to help enterprises achieve sustainability in the cloud. By choosing them, enterprises are almost adopting net zero by proxy,” Koushik says.

article thumbnail

Tech Moves: Top Blue Origin engineer joins SpaceX; Axon hires HTC Vive exec; Porch adds to board

GeekWire

billion contract to return astronauts to the moon. Seattle-based home services technology company Porch Group added two new board members : Imagination Capital co-founder and Managing Partner Rachel Lam , and former Aviva plc Group CEO Maurice Tulloch. Microsoft Photo). Read the story. Lisa Nelson. Athira Photos). Lessen Photo).

CTO Hire 136
article thumbnail

Where’s the ROI for AI? CIOs struggle to find it

CIO Business Intelligence

While Kane shows clients how to save time and money using AI tools like Microsoft Copilot, many SMB customers still don’t see the value of generative AI in tasks like writing a newsletter, when the AI doesn’t have access to their internal data. They need to be shown how to really use the tool in order to use it effectively,” he says.

Survey 143
article thumbnail

CIOs rethink all-in cloud strategies

CIO Business Intelligence

The savings are just too big to ignore for a ton of companies,” says David Heinemeier Hansson, the Danish developer of Ruby on Rails and co-owner and CTO of 37signals, which completed a six-month total exit from the cloud last June. “‘Cloud exit’ became a big theme in 2023 and there’s good odds it’ll turn into a real trend for 2024.

Strategy 144
article thumbnail

JLL reinvents itself for the AI era

CIO Business Intelligence

Pivoting to tech provider JLL’s move to develop facilities management software is part of an expanded business model that has enabled the company to perform well in tough times, says Morin, who is employing a hybrid strategy for software development in which JLL Technologies will both build in-house and partner with other SaaS vendors.