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Oracle (NYSE: ORCL) recently reported its fourth-quarter results that managed to surpass the market's expectations. Like all other technology players today, Oracle is also gearing up its product offerings to address the growing demand for AI-capable solutions. Oracle's Financials Revenue for the fourth quarter grew 18% to $13.8 billion, slightly above analyst estimates of $13.74 billion. Net income was $4.1 billion or $1.19 per share. Adjusted EPS was $1.67. The market was looking for an EPS of $1.58. Cloud services and license support revenues grew 25% to $9.4 billion. Cloud license and on-premise license revenues fell 14% to $2.2 billion. Hardware revenues also registered a 1% growth to $850 million. Services revenues grew 78% to $1.465 billion. For the fiscal year, Oracle reported revenues of $50 billion, growing 22%, and an EPS of $5.12. Oracle's Generative AI Focus Oracle recently announced the addition of generative AI-powered capabilities within Oracle Fusion
Oracle has announced the introduction of sovereign cloud regions for EU customers. Technology giant Oracle has announced the introduction of sovereign cloud regions specifically tailored for its customers in the European Union (EU).
Oracle announced a new partnership with AI startup Cohere that will utilize Cohere's large language models and Oracle's cloud infrastructure to help clients make generative AI tools.
A partnership with Cohere, a leading AI platform for enterprises, is intended to develop generative artificial intelligence services for organisations worldwide.