Oracle $ORCL. Going all in. https://t.co/ovCcKFP7xt
Oracle now counts both TikTok and Temu as large cloud customers OCI is quickly becoming the largest "Chinese Cloud" in America 🙃
$ORCL Options market was right again. https://t.co/4cWuervLGM
Oracle Corp. said it has signed a “gigantic” cloud-infrastructure contract with Temu, the fast-growing Chinese e-commerce retailer owned by PDD Holdings. The agreement deepens Oracle’s business with major Chinese technology companies in the United States, adding to its existing mandate to host TikTok’s U.S. data on Oracle Cloud Infrastructure. The announcement came alongside the company’s latest earnings release, which delivered revenue and profit that exceeded Wall Street estimates and was accompanied by what analysts described as a solid outlook for further cloud growth. Market participants highlighted the stronger-than-expected results and the new contract as evidence that Oracle’s multi-year push into cloud services is gaining traction among large, international customers.
