01:47 PM EDT, 05/06/2024 (MT Newswires) -- Accenture ( ACN ) and Oracle (ORCL) said Monday they are investing in new generative artificial intelligence solutions to help clients improve business efficiency while keeping their data private and secure.

The companies said their collaboration will focus initially on driving digital finance transformation across industries. This builds on Accenture's ( ACN ) previously announced $3 billion investment in AI.

Separately, Accenture ( ACN ) unit Accenture Federal Services said it won a cloud modernization and migration contract with a potential value of $127 million from the US Army.

The contract includes a one-year base ordering period with two optional years.

Accenture ( ACN ) shares rose 0.4% in recent trading Monday, and Oracle gained 1.2%.

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