Pradeep Vincent, Oracle Cloud Infrastructure (OCI) Senior VP and Chief Technical Architect, stated that the rise of multi-cloud adoption signals the cloud industry’s maturity, rather than being solely driven by the artificial intelligence (AI) boom. Speaking at Oracle CloudWorld 2024, Vincent noted that multi-cloud adoption allows businesses to leverage the best features of various cloud providers, rather than relying on just one.
Oracle, which has partnered with rivals like Microsoft, Google, and AWS, is rapidly expanding its global cloud presence. In Q1, Oracle reported over 42% of its revenue, amounting to $5.6 billion, came from its cloud services. The company also signed $3 billion in cloud GPU contracts to support large-scale AI projects, and its multi-cloud agreements have boosted growth, especially through partnerships with Microsoft and Google.
