Excited About Oracle Cloud? Not So Fast -- The Story Is Really About Nvidia
It's the season for big technology events, and even old software giant Oracle (NYSE: ORCL) is getting in on the action. At its recent CloudWorld event, Oracle CEO Safra Catz was joined by Nvidia (NASDAQ: NVDA) CEO Jensen Huang to renew the companies' long-standing collaboration and announce new integrations.
Paired with the accelerating growth it showed off in its latest earnings, Oracle's expansion with Nvidia makes it look like an exciting tech stock again. But is it really? One of these two companies has more to gain from this relationship, and I don't believe it's Oracle.
Oracle has been putting in a lot of work into its cloud infrastructure services in recent years, and it's starting to pay off. In the first quarter of Oracle's fiscal 2023 (the three months ended Aug. 31, 2022), the company said its infrastructure-as-a-service (IaaS) revenue increased 52% year over year to $900 million. Together with its integrated software-as-a-service (SaaS) products, the segment increased 45% in Q1 to $3.6 billion.
Source Fool.com
