US tech giant Oracle plans to invest three billion US dollars in the development of artificial intelligence and cloud technologies in Europe over the next five years. This is reported by Reuters.
The company said that $2 billion will be invested in Germany and another $1 billion in the Netherlands to develop a modern digital infrastructure that will meet the needs of the growing market.
“We are seeing rapid growth in demand for artificial intelligence infrastructure in Europe. This investment will help accelerate the scalability and security of AI solutions for the enterprise sector,” Oracle said in an official statement.
The move comes amid a global surge in AI investment, particularly following the launch of OpenAI’s ChatGPT. Oracle provides critical cloud infrastructure for such companies and is a member of the Stargate partnership, which provides computing power for OpenAI.
Analysts also note a 38% rise in Oracle’s share price since the beginning of the year, which was the result of high demand for its cloud services focused on artificial intelligence and big data processing.
