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Oracle and Palantir team up for AI-driven cloud solutions

Published 2024-04-04, 09:30 a/m
© Reuters

AUSTIN, Texas, and DENVER - Oracle (NYSE:ORCL) and Palantir (NYSE:PLTR) have announced a strategic partnership to offer cloud and artificial intelligence (AI) solutions to businesses and governments worldwide. The collaboration combines Oracle's distributed cloud and AI infrastructure with Palantir's AI and decision acceleration platforms, with the intent to enhance organizational efficiency, sovereignty, and competitiveness.

Palantir will migrate its Foundry workloads to Oracle Cloud Infrastructure and enable deployment of its Gotham and AI platforms across Oracle's extensive cloud network. This includes public cloud regions, Oracle Cloud Infrastructure Dedicated Regions, Oracle Alloy, Oracle EU Sovereign Cloud, Oracle Government Cloud, Oracle Roving Edge, and air-gapped regions for defense and intelligence customers.

Oracle's AI capabilities are expected to augment Palantir's data integration and decision-making platforms, providing a comprehensive solution for organizations.

Rand Waldron, vice president at Oracle, emphasized the unique position of Oracle Cloud Infrastructure in delivering AI and cloud services globally, stating that the partnership will empower customers to succeed in various environments. Josh Harris, executive vice president at Palantir, highlighted the alignment of both companies in supporting Western interests and institutions, noting that Oracle's infrastructure will bolster Palantir's global impact.

The partnership aims to address the needs of organizations in any region, including those with high sovereignty and security requirements. Oracle Cloud offers over 100 cloud services and applications, which now include generative AI innovations running on AI infrastructure. Consistent service and pricing across deployment types are designed to simplify operations.

Palantir's Artificial Intelligence Platform (AIP) aims to integrate disparate data sources and systems into a unified operational picture, with a focus on security and trust. Oracle's AI strategy, backed by its history in defense and intelligence, is expected to enhance Palantir's AI capabilities, facilitating accelerated decision-making for customers.

The two companies will jointly market and support their cloud and AI services across various government and commercial sectors.

This partnership is based on a press release statement and reflects the companies' forward-looking expectations for the collaboration.

InvestingPro Insights

As Oracle (NYSE:ORCL) partners with Palantir to enhance AI capabilities and cloud infrastructure, it's important to consider Oracle's current financial health and market performance. Oracle's market capitalization stands at a robust 346.97 billion USD, reflecting its significant presence in the software industry. The company's P/E ratio is currently at 32.23, indicating a premium valuation by the market relative to its earnings.

An InvestingPro Tip worth noting is that Oracle has raised its dividend for 10 consecutive years, showcasing a commitment to returning value to shareholders. Additionally, the company has maintained dividend payments for 16 consecutive years, which may be attractive to long-term investors looking for stable income streams.

However, analysts have recently revised their earnings expectations downwards for the upcoming period, suggesting potential challenges ahead. This contrasts with the company's strong historical performance, such as achieving a high return over the last decade and the last five years.

Investors interested in a deeper dive into Oracle's financials and additional insights can utilize InvestingPro for a comprehensive analysis. There are 12 more InvestingPro Tips available for Oracle, which can be accessed by visiting https://www.investing.com/pro/ORCL. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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