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Oracle to invest $6.5 billion to set up cloud facilities in Malaysia

Economic Times

Economic Times · 9m ago

Oracle to invest $6.5 billion to set up cloud facilities in Malaysia

- Oracle plans to invest over $6.5 billion in setting up its first public cloud region in Malaysia. - Malaysia has seen significant investments from tech giants like Microsoft, Nvidia, Google, and ByteDance, primarily in cloud services and data centers. - The public cloud region will enable Malaysian organizations to modernize their applications, migrate workloads to the cloud, and leverage data analytics and AI. - The investment will allow Oracle's Malaysian customers, including government agencies and financial institutions, to use cloud services based within the country. - This would be Oracle's third public cloud region in Southeast Asia, expanding its presence in the region. - Oracle expects to cross $100 billion in revenue by fiscal year 2029, indicating the rising demand for its cloud services.

Related News

ByteDance plans $2.1 billion investment in Malaysia for AI, minister says

Economic Times

Economic Times · 1y ago

ByteDance plans $2.1 billion investment in Malaysia for AI, minister says

China's ByteDance, the parent company of TikTok, is planning to invest $2.13 billion to establish an artificial intelligence hub in Malaysia, as well as expanding its data center facilities in the country. This is part of ByteDance's expansion into Southeast Asia and will aid Malaysia in achieving its goal of growing its digital economy. Other tech giants, such as Google and Microsoft, have also made significant investments in Malaysia recently. Google has announced a $2 billion investment for its first data center in the country while Microsoft plans to invest $2.2 billion in cloud and AI services.

Oracle Plans To Increase Investments In India, Focus On AI & Data

Inc42 · 1y ago

Oracle Plans To Increase Investments In India, Focus On AI & Data

Oracle is planning to increase its investments in India, particularly in AI and data. The company is set to invest around $10 billion in setting up new data centers for its global AI expansion plans. Oracle aims to double down on its investments and focus on data in India. The company recently unveiled the Oracle Database 23ai, which features Oracle AI Vector Search, allowing users to search for documents and images across Oracle databases in real-time. With the growing adoption of AI in India, Oracle's increased investments align with the market trend.

What is Stargate, a $500 billion venture between OpenAI, SoftBank and Oracle announced by Donald Trump?

Hindustan Times

Hindustan Times · 6m ago

What is Stargate, a $500 billion venture between OpenAI, SoftBank and Oracle announced by Donald Trump?

The joint venture or alliance, called Stargate, will invest $500 billion, at least, in AI infrastructure in the United States, Trump said. US President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence led by ChatGPT-maker OpenAI, Japanese giant Softbank and cloud giant Oracle. The Stargate project is committed to invest an initial $100 billion and up to $500 billion over the next four years in the project, according to Son.

Hitachi, Microsoft plan for multibillion-dollar AI partnership

Livemint

Livemint · 1y ago

Hitachi, Microsoft plan for multibillion-dollar AI partnership

Hitachi and Microsoft have announced a partnership to promote the adoption of generative artificial intelligence. Through the collaboration, Hitachi will integrate Microsoft Cloud and GitHub Copilot into its Lumada business, aiming to generate $18.9 billion in revenue from Lumada in the current fiscal year. Microsoft has been making significant investments in Asia, with plans to invest in cloud and AI infrastructure in Malaysia, Indonesia, and Thailand. Hitachi also intends to invest $1.92 billion in generative AI by fiscal 2024. The two companies have been working together on digital solutions for manufacturing and logistics.

What is Stargate, a $500-bn venture of OpenAI, SoftBank & Oracle?

Inshorts · 6m ago

What is Stargate, a $500-bn venture of OpenAI, SoftBank & Oracle?

US President Donald Trump on Tuesday announced a joint venture between ChatGPT-maker OpenAI, Japanese firm SoftBank and cloud giant Oracle that'll invest in building US' AI capabilities. The alliance, called Stargate, will invest $500 billion at least over the next four years. The project aims to support the "re-industrialisation of US" and create hundreds of thousands of jobs, OpenAI said.

Google says Malaysia investments to add $3 billion to its GDP by 2030, create 26,500 jobs

Economic Times

Economic Times · 9m ago

Google says Malaysia investments to add $3 billion to its GDP by 2030, create 26,500 jobs

1. Google's investments in Malaysia are expected to create 26,500 jobs and contribute over $3 billion to the economy by 2030. 2. Construction of a new $2 billion data center in Malaysia has begun, following Google's partnership with Dagang NeXchange Berhad to provide sovereign cloud services. 3. Google also recently announced a $1 billion investment in Thailand for a data center and cloud region to meet growing cloud demand and support AI adoption in Southeast Asia. 4. These investments aim to provide high-performance and reliable cloud and AI services in Malaysia, supporting the country's digital transformation. 5. The expansion of global tech companies like Google, Microsoft, and Amazon into Southeast Asia reflects the region's significant potential with its young and tech-savvy population. 6. Malaysia's investment in data centers aligns with its ambitions to become a regional leader in the tech sector, particularly in the field of AI.

Oracle has reportedly suffered 2 separate breaches exposing thousands of customers‘ PII

Arstechnica

Arstechnica · 3m ago

Oracle has reportedly suffered 2 separate breaches exposing thousands of customers‘ PII

Oracle reportedly faced two data breaches affecting Oracle Health and Oracle Cloud, exposing sensitive personal information of customers. Reports indicate that Oracle Health's breach involved patient data from US hospitals, while the Oracle Cloud breach involved authentication data for 140,000 customers. Oracle has denied a breach in its cloud infrastructure. However, inconsistencies in the company's response and unofficial breach notifications have been notable concerns. The situation remains under scrutiny, with Oracle declining further comment.

OpenAI sees $11.6 billion revenue next year, offers Thrive chance to invest again in 2025

Economic Times

Economic Times · 9m ago

OpenAI sees $11.6 billion revenue next year, offers Thrive chance to invest again in 2025

Thrive Capital is set to invest over $1 billion in OpenAI's current $6.5 billion fundraising round. As part of the deal, Thrive has the potential to invest another $1 billion next year if OpenAI reaches a revenue goal. OpenAI predicts its revenue will reach $11.6 billion in 2023, while losses for this year could be as high as $5 billion. The funding round, expected to close next week, could value OpenAI at $150 billion. Thrive Capital led OpenAI's previous funding round and is offering $1.2 billion for this round. Other investors include Microsoft, Apple, Nvidia, and Khosla Ventures.

India's industries must foray into cutting-edge tech to attract more chip fabrication units: Intel's Christoph Schell

Economic Times

Economic Times · 1y ago

India's industries must foray into cutting-edge tech to attract more chip fabrication units: Intel's Christoph Schell

Intel's CEO, Pat Gelsinger, stated that semiconductor supply chains in Asian countries such as India, China, Malaysia, Taiwan, Vietnam, and Indonesia are becoming increasingly significant for the company. Intel aims to have semiconductor fabrication or packaging and manufacturing units in these regions. However, Intel isn't planning to set up a semiconductor fabrication unit in India in the near future. Intel plans to invest over $100 billion in its semiconductor capacities in the US over the next five years. Christoph Schell, Intel's Chief Commercial Officer, emphasized the importance of local industries adopting cutting-edge technologies to attract semiconductor fabrication units to India.

Oracle misses quarterly results estimates on stiff cloud competition

Economic Times

Economic Times · 7m ago

Oracle misses quarterly results estimates on stiff cloud competition

Oracle's second-quarter revenue fell short of expectations due to fierce competition in the database and cloud services market. The company's shares dropped over 7% in after-hours trading as it faces tough competition from Microsoft and Amazon. Despite reporting a 9% increase in revenue, Oracle missed estimates, causing concerns among analysts about its future growth. Oracle has been partnering with cloud hypervisors like Microsoft Azure and Amazon Web Services to gain market share, but analysts believe it will remain a distant fourth in the hyperscaler market. The company aims to exceed $25 billion in cloud revenue by 2025.

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