Oracle Adds $100 Billion to Market Cap Following Major Cloud Partnership Announcement
Oracle Corporation (ORCL) saw its market cap increase by $100 billion after announcing a major expansion of its multicloud partnership with Amazon.com (AMZN) AWS. The partnership aims to improve connectivity between Oracle Cloud Infrastructure (OCI) and AWS, allowing easier data movement and application running across both platforms. This move is expected to enhance Oracle's position as a cross-cloud database and AI layer, contributing to a 531% year-over-year growth in multicloud database revenue.
Topics: AWS market cap multicloud Oracle strategic partnership