Founder and Executive Chairman of Oracle Corp, Larry Ellison, said his company seeks to expand its cloud-computing offerings to directly compete with Amazon.com Inc.
This is going to be a major step for Oracle as the company is shifting its traditional databases and customer relationship management businesses to the cloud.
Amazon Web Services is the market leader in providing cloud computing capability to customers, followed by Microsoft Corp’s Azure service and International Business Machines Corp.
The cloud offering of Oracle is called the Oracle Cloud Platform.
Oracle’s cloud business is growing quickly, running at a rate of about $2.3 billion a year in revenue, based on last quarter’s figures.
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