Oracle Skids on Hiking AI Might
The AI boom — fueled by the launch of chatbot ChatGPT in November 2022 — is driving an increase in demand for cloud computing services and data centers, as large amounts of data are required in AI model training and the cloud provides access to vast datasets.
Oracle has been introducing generative AI capabilities into its cloud infrastructure and applications to complement the traditional AI already embedded in them.
“The classic AI is very good in terms of detecting patterns or predicting numbers ... but you cannot use large language models to predict numbers,” Rondy Ng, executive vice president of applications development at Oracle, told reporters.
“So we combined the predictive numbering capability with the explained ability in words. So the two together become very powerful and you need both. In the past many years, the number prediction part is already very mature. As part of the product we continue to evolve that and it’s not going to stop. Generative AI is basically the talk of the town right now,” said Ng.
ORCL shares began the day and the week down 66 cents to $116.48.
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