Includes major US listed cloud computing service providers. These companies provide IAAS, SAAS, and PAAS services, infrastructure, and solutions for companies and individuals, enabling them to quickly deploy and manage their own operations, applications, and systems. Cloud computing is a significant investment opportunity for its potential cost savings. By moving IT infrastructure to the cloud, companies can reduce capital expenditures on hardware and software and only pay for the services they use, freeing up resources to invest in other areas such as research and development or marketing. Increasing demand for storage and processing power is driving the growth of cloud computing. As more businesses move to digital platforms and adopt technologies like AI, the amount of data being generated is growing exponentially. Cloud computing offers a scalable solution to handle this data.
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Not up to expectations! Oracle's cloud infrastructure performance has surged, but the stock price fell over 7% in after-hours trading.
① After the market closed on Monday Eastern Time, Oracle announced its second fiscal quarter earnings report, but this popular AI stock did not surprise investors; ② Oracle's cloud computing service revenue increased by 12% to $10.81 billion, accounting for 77% of total revenue, of which cloud infrastructure revenue grew by 52% to $2.4 billion.