Oracle (ORCL) Aids SymphonyAI to Deliver IT Solutions on Cloud

Oracle (ORCL) announces the selection of OCI by SymphonyAI to help its clientele tap the power of cloud flexibility and cost efficiencies. Read More...

Oracle ORCL and SymphonyAI recently announced a partnership wherein Oracle will offer SymphonyAI solutions on Oracle Cloud Infrastructure (OCI) using key services, including Oracle Exadata Database Service, GPU-accelerated compute and performance monitoring.

SymphonyAI provides focused artificial intelligence (AI) applications designed to rapidly solve challenging business problems and deliver breakthrough insights, increasing operational efficiencies and growing revenues for customers.

OCI Application Performance Monitoring provides deep visibility into the performance of applications and enables development teams to diagnose issues quickly, helping deliver a consistent level of service.

Retailers and CPGs continue to face the pressures of supply chain delays, increased customer demands and forecasting uncertainties while working to enhance their operations and find new ways to overcome these hurdles. Collaborating with Oracle will allow SymphonyAI to help its clientele tap the power of cloud flexibility and cost efficiencies for real-time insights and recommendations.

Oracle Corporation Price and Consensus

Oracle Corporation Price and Consensus

Oracle Corporation Price and Consensus

Oracle Corporation Price and Consensus

Oracle Corporation price-consensus-chart | Oracle Corporation Quote

Availability of Comprehensive Cloud Solutions to Aid Prospects

To cater to the growing cloud security needs, Oracle is upgrading and expanding its cloud solutions portfolio. As enterprises across the world rapidly migrate to the cloud environment, the company has been witnessing a rising demand for its software-as-a-service (SaaS), infrastructure-as-a-service (IaaS) and platform-as-a-service products.

In the fiscal second quarter, management noted that the company’s IaaS and SaaS business grew 22% to $2.7 billion.

Per a Gartner report, 45% of the global organizations will have experienced attacks on their supply chains by 2025, almost three times more than in 2021. As more organizations across industries, from retail to financial services, shift most of their critical workloads to the cloud, security breaches and data exposures are increasing. The introduction of hybrid work and digital business processes in the cloud brought in newer risks.

The Zacks Rank #3 (Hold) company has also been riding on the robust demand for its infrastructure cloud services. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Companies like MercadoLibre, Xactly, 8×8 and Zoom Video Communications selected Oracle Cloud Infrastructure services to address business needs, which is a testament to the strength of its cloud offerings. The cloud services offering opened up a new source of recurring revenues (subscriptions) which is expected to improve visibility.

In the second quarter of fiscal 2023, Oracle and NVIDIA NVDA announced a multi-year partnership to help customers solve business challenges with accelerated computing and artificial intelligence. The collaboration aims to bring the full NVIDIA accelerated computing stack — from GPUs to systems to software — to OCI. OCI is adding tens of thousands more NVIDIA GPUs, including the A100 and upcoming H100 to its capacity.

With Oracle’s alliance with NVIDIA, OCI provides GPU-accelerated compute services to support SymphonyAI’s customers’ ability to train AI models rapidly to forecast purchasing trends, making sure every customer’s store has the optimized number of products in the right place on the shelves.

The higher availability of Oracle cloud regions globally is expected to fortify its competitive position in the cloud computing domain. Last month, Oracle opened its fourth cloud region in the United States for private and public sector partners and customers, the database products and cloud vendor said Thursday. This is the company’s 41st cloud region worldwide and joins an already existing cloud region for government organizations.

Despite its late entry, Oracle has been endeavoring to grab a larger share of the prospective cloud market, which is dominated by the likes of Amazon’s AMZN Amazon Web Services, Microsoft’s MSFT Azure Cloud and Google Cloud.

According to estimates from Synergy Research Group, Amazon’s market share in the worldwide cloud infrastructure market amounted to 34% in the third quarter of 2022, still exceeding the combined market share of its two largest competitors, Microsoft Azure and Google Cloud which stood at 21% and 11%, respectively.

In third-quarter 2022, global cloud infrastructure service spending climbed to $57 billion, bringing the industry total for the trailing 12 months to $217 billion. Amazon, Microsoft and Google accounted for two thirds of cloud infrastructure revenues in the three months ended Sep 30 with the eight largest providers controlling more than 80% of the market.

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