June 20 (Reuters) - Oracle on Thursday said it

will invest more than $1 billion over the next 10 years in

artificial intelligence and cloud computing in Spain, as it

looks to meet increasing demand for its services in the country.

The investment will be used to set up a new cloud region

that will allow customers to move workloads from their data

centers to Oracle Cloud Infrastructure, while also helping them

address regulations like the European Union's Digital

Operational Resilience Act (DORA) and the European Outsourcing

Guidelines.

This will be Oracle's third cloud region in Madrid and the

company will partner with Telefonica España for the project. The

first cloud region was opened in 2022.

"We are reaffirming our commitment to helping Spanish

organizations of all sizes and industries" and accelerate the

adoption of cloud technologies to boost business performance,

said Albert Triola, country leader, Oracle Spain.

"The investment...will help Spanish enterprises and public

sector organizations innovate with AI and continue advancing on

the path of digital transformation," said José Luis Escrivá,

Spain's minister for digital transformation and public

administration.

Oracle last week forecast fiscal 2025 revenue to grow in

double digits, above analysts' estimates, indicating strong

demand for its AI-powered cloud services.

The company also announced partnerships with ChatGPT-maker

OpenAI and Google Cloud to extend its cloud

infrastructure to customers.