Business News Report
June 14, 2023

Oracle Partners With Cohere to Provide Generative AI Services for Enterprises Worldwide; Expands Partnership With SailGP

Oracle, the cloud application and cloud platform, has partnered with enterprise AI platform Cohere to provide generative AI services for organizations worldwide. 

Oracle partners with Cohere to provide generative AI services for enterprises worldwide

Through the partnership, Cohere will train, build, and deploy its generative AI models on Oracle Cloud Infrastructure (OCI) in order to build Oracle’s native generative AI services that could help organizations streamline business processes and enhance customer experiences.

Oracle claims that OCI’s high-performance and low-cost GPU cluster technology is capable of running large AI workloads. According to a press release, OCI boasts a scale of over 16K H100 GPUs per cluster, with very low latency and the highest bandwidth RDMA network in the cloud.

Cohere’s models will also be integrated into Oracle’s portfolio of cloud and business applications, including Oracle Fusion Cloud Applications, Oracle NetSuite, and Oracle industry-specific applications for their customers’ business needs. For instance, Oracle will deploy new models for healthcare and public safety, amongst other use cases, to boost employee productivity and efficiency.

Oracle will also give customers complete control and ownership of their data, along with the ability to refine generative AI models using their own data to increase accuracy for specific business use cases.

Our partnership with Cohere will enable our customers to easily embed generative AI into their business. Using Cohere’s foundational models, customers can securely incorporate their own data to train specific models, deploy them on best-in-class AI infrastructure through OCI, and experience the business benefits immediately in their applications,” said Clay Magouyrk, executive vice president, Oracle Cloud Infrastructure, in a statement.

Also announced on Tuesday, Oracle and SailGP have expanded their cloud partnership through to 2026 as the sailing league will use Oracle Customer Experience (CX) technology to power its new fan engagement platform The Dock: A web3-integrated, free fan loyalty program powered by Oracle Fusion Applications and built on NEAR protocol

This news coincides with Oracle’s posting of its 2023 Q4 and fiscal full year financial results on Monday. The company reported that its total quarterly revenues were up 17% year-over-year in USD. Following the company’s strong earnings report, Oracle’s stock opened at an all-time high of $123.32 on Tuesday.

“Oracle’s revenue reached an all-time high of $50 billion in FY23,” said Oracle CEO, Safra Catz. “Annual revenue growth was led by our cloud applications and infrastructure businesses which grew at a combined rate of 50% in constant currency. Our infrastructure growth rate has been accelerating—with 63% growth for the full year, and 77% growth in the fourth quarter. Our cloud applications growth rate also accelerated in FY23. So, both of our two strategic cloud businesses are getting bigger—and growing faster. That bodes well for another strong year in FY24.”

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About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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