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Oracle (ORCL) Opens OCI Generative AI Service for Enterprises
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Oracle (ORCL - Free Report) is riding on an expanding clientele and a strong portfolio of cloud services along with AI and Generative AI solutions. Currently, the company serves more than 430,000 customers worldwide.
The company has announced the general availability of the Oracle Cloud Infrastructure (OCI) Generative AI service for enterprises. The service will enable enterprises to include AI in their workflows and reap the benefits from the latest advancements in generative AI.
Oracle’s OCI offers cloud-based computing, storage, and networking capabilities, application development and cloud-native services.
OCI Generative AI is an entirely managed service that easily integrates large language models (LLMs) from Cohere and Meta Platforms’ (META - Free Report) Meta Llama 2 to fulfill a range of business cases that can be accessed via application programming interfaces (API) calls. It utilizes Llama 2’s generative text models that are used for a variety of natural language generation tasks.
The company aims to help customers solve business-related challenges, including text generation, summarization and semantic similarity work, faster. The new Generative AI service enables users to work with a large pool of enterprise data sources using natural language without the need to have specialist skills.
OCI Generative AI service boasts additional features that support over 100 languages, an improved GPU cluster management experience and flexible fine-tuning options for clients who apply OCI Generative AI service in the Oracle Cloud and on-premises through OCI Dedicated Region. Oracle intends to help customers build their AI-powered applications by creating new business solutions, combining their private enterprise with the improved capabilities of generative AI.
The new OCI Data Science AI Quick Actions features that enable no-code access to a variety of open-source LLMs like Meta and Mistral AI will be available in the coming month.
Oracle’s portfolio of customers includes companies like Uber Technologies, Zoom, FedEX, North Medical Health, Altair Engineering, Mizzou, Toyota and many more. These companies have chosen Oracle’s integrated suite of cloud applications to improve their business outcomes.
In the recent past, the European Commission chose OCI and its platform services to gain access to more than 100 OCI services and benefit from cloud computing.
With the integration of generative AI across its portfolio of cloud applications like ERP, HCM, SCM and CX, Oracle strives to enable customers to benefit from the latest innovations within their existing business processes.
The Zacks Consensus Estimate for Oracle’s revenues for 2024 is pegged at $53.33 billion, indicating growth of 6.8% year over year, driven by the company’s strength in Cloud HCM and database business.
The consensus mark for 2024 earnings is pegged at $5.53 per share, which has remained unchanged in the past 30 days.
Initially, Oracle announced limited availability of the OCI Generative AI service to help businesses automate end-to-end business processes, improve decision-making, and improve customer experiences while keeping their data secure and private.
OCI multi-cloud services also work with several other products, including Microsoft’s (MSFT - Free Report) Microsoft Azure, Amazon Web Services, and Google Cloud Platform.
Oracle and Microsoft have partnered to provide easier network communication and cross-cloud connectivity with higher bandwidth, allowing businesses to take advantage of the best of both clouds.
Oracle’s growing Generative AI efforts are likely to compete against the likes of Alphabet (GOOGL - Free Report) -owned Google, Amazon, Adobe and more.
Alphabet’s Google has unveiled its advanced, powerful LLM, Gemini, based on a combination of 57 subjects, including math, physics, history, law and more. Google’s Gemini will be available in three different sizes and is designed for specific tasks and mobile devices.
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Oracle (ORCL) Opens OCI Generative AI Service for Enterprises
Oracle (ORCL - Free Report) is riding on an expanding clientele and a strong portfolio of cloud services along with AI and Generative AI solutions. Currently, the company serves more than 430,000 customers worldwide.
Shares of this Zacks Rank #3 (Hold) company have risen 13.9% in the past three months compared with the Zacks Computer & Technology sector’s rise of 25.8%. The growth can be attributed to the company’s efforts to expand its cloud technology. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company has announced the general availability of the Oracle Cloud Infrastructure (OCI) Generative AI service for enterprises. The service will enable enterprises to include AI in their workflows and reap the benefits from the latest advancements in generative AI.
Oracle’s OCI offers cloud-based computing, storage, and networking capabilities, application development and cloud-native services.
OCI Generative AI is an entirely managed service that easily integrates large language models (LLMs) from Cohere and Meta Platforms’ (META - Free Report) Meta Llama 2 to fulfill a range of business cases that can be accessed via application programming interfaces (API) calls. It utilizes Llama 2’s generative text models that are used for a variety of natural language generation tasks.
The company aims to help customers solve business-related challenges, including text generation, summarization and semantic similarity work, faster. The new Generative AI service enables users to work with a large pool of enterprise data sources using natural language without the need to have specialist skills.
OCI Generative AI service boasts additional features that support over 100 languages, an improved GPU cluster management experience and flexible fine-tuning options for clients who apply OCI Generative AI service in the Oracle Cloud and on-premises through OCI Dedicated Region. Oracle intends to help customers build their AI-powered applications by creating new business solutions, combining their private enterprise with the improved capabilities of generative AI.
The new OCI Data Science AI Quick Actions features that enable no-code access to a variety of open-source LLMs like Meta and Mistral AI will be available in the coming month.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle’s Growing Efforts to Expand Clientele
Oracle’s portfolio of customers includes companies like Uber Technologies, Zoom, FedEX, North Medical Health, Altair Engineering, Mizzou, Toyota and many more. These companies have chosen Oracle’s integrated suite of cloud applications to improve their business outcomes.
In the recent past, the European Commission chose OCI and its platform services to gain access to more than 100 OCI services and benefit from cloud computing.
With the integration of generative AI across its portfolio of cloud applications like ERP, HCM, SCM and CX, Oracle strives to enable customers to benefit from the latest innovations within their existing business processes.
The Zacks Consensus Estimate for Oracle’s revenues for 2024 is pegged at $53.33 billion, indicating growth of 6.8% year over year, driven by the company’s strength in Cloud HCM and database business.
The consensus mark for 2024 earnings is pegged at $5.53 per share, which has remained unchanged in the past 30 days.
Initially, Oracle announced limited availability of the OCI Generative AI service to help businesses automate end-to-end business processes, improve decision-making, and improve customer experiences while keeping their data secure and private.
OCI multi-cloud services also work with several other products, including Microsoft’s (MSFT - Free Report) Microsoft Azure, Amazon Web Services, and Google Cloud Platform.
Oracle and Microsoft have partnered to provide easier network communication and cross-cloud connectivity with higher bandwidth, allowing businesses to take advantage of the best of both clouds.
Oracle’s growing Generative AI efforts are likely to compete against the likes of Alphabet (GOOGL - Free Report) -owned Google, Amazon, Adobe and more.
Alphabet’s Google has unveiled its advanced, powerful LLM, Gemini, based on a combination of 57 subjects, including math, physics, history, law and more. Google’s Gemini will be available in three different sizes and is designed for specific tasks and mobile devices.