Software giant Oracle (NYSE:ORCL) will report its first quarter Fiscal year 2024 results after the market closes today. Despite macro uncertainty, the company is witnessing unprecedented demand for its cloud services, especially its artificial intelligence (AI) services, which are expected to support Fiscal Q1 revenues and boost earnings.
The company highlighted during the Fiscal Q4 2023 conference call that its cloud data centers have a high-bandwidth and low-latency Remote Direct Memory Access (RDMA) network, which is best suited for building the large-scale graphics processing unit (GPU) clusters used to train generative large-language models. Thus, its Gen2 Cloud has emerged as the top choice for AI development companies to train their large language models, providing significant growth opportunities for Oracle.
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