While software and database giant (NYSE: ORCL) was late to the cloud computing party, the company is taking advantage of the generative AI boom to carve out a potentially lucrative niche.

Oracle's results for the fiscal third quarter, which ended on Feb. 29, beat expectations by only a slight margin. However, the company's progress in the cloud got investors excited despite sluggish growth in other areas.

Oracle has positioned its cloud infrastructure business to go after artificial intelligence workloads. Demand for AI computing capacity is soaring, driven by both established companies and an ever-increasing number of AI start-ups. Those startups aren't yet locked into other cloud providers such as Amazon Web Services.

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Source Fool.com