Oracle on Monday said it is planning to invest $1.5 billion in Saudi Arabia to bolster its cloud computing capacity in the Middle East.
The planned investment, which is part of Oracle’s memorandum of understanding with Saudi Arabia Ministry of Communications and Information Technology, will see the public cloud services provider expand its existing cloud region in Jeddah, and open a new one in Riyadh.
In addition to the Riyadh region, Oracle will work with the ministry to set up a commercial and operational model for another cloud region in Saudi Arabia that complies with Saudi government requirements and local data residency regulations.
