Oracle has been a laggard in the cloud service provider (CSP) race, but according to executives on the most recent earnings call, the company is poised for significant growth in cloud infrastructure services.
CEO Safra Catz told Wall Street analysts that one of Oracle’s greatest challenges is building data centers fast enough to meet rising demand, and that the company could have realized “hundreds of millions of dollars” more from its Oracle Cloud Infrastructure (OCI) service for the second fiscal quarter of 2024 (ended Nov. 30, 2023).
“We have a lot of capacity coming online,” Catz told the analysts. “We expect OCI to just grow astronomically, frankly. It is the ideal infrastructure for so much use.
