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Oracle to Invest $6.5 Billion in Malaysia Cloud, AI Capabilities
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Oracle to Invest $6.5 Billion in Malaysia Cloud, AI Capabilities
Oct 2, 2024 10:46 PM

04:30 AM EDT, 10/02/2024 (MT Newswires) -- Oracle (ORCL) said Tuesday it plans to invest more than $6.5 billion for a public cloud region in Malaysia to meet growing demand for artificial intelligence and remote computing capabilities.

The company said the cloud region will help Malaysian organizations migrate work to the cloud and access generative AI tools powered by Nvidia (NVDA) processors. Because the cloud infrastructure will be located in the country, it will "help address regulations and requirements for data residency within Malaysia," Oracle said.

Malaysia Minister of Investment Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz said the investment "will empower Malaysian entities, especially small and medium-sized enterprises."

Price: 166.51, Change: -0.65, Percent Change: -0.39

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