Oracle shares rose modestly in after-hours trading Monday after the IT giant reported revenue grew 18% to $11.4 billion in the quarter ending in August compared with the year prior, bolstered by its acquisition of the health records firm Cerner Corp. in June. Without Cerner’s revenue, revenue would have risen by 3%—a slight decline from its growth rate in the prior two quarters. Overall, Oracle...
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Oracle’s Answer to the Microsoft-OpenAI Alliance: Cozying Up to Cohere
Oracle has invested in Cohere, an artificial intelligence startup that competes with OpenAI, the startup said on Thursday. What Cohere didn’t say: Oracle plans to make the startup a centerpiece of its strategy to catch up to bigger cloud rivals that sell services powered by large-language models. Steve Miranda, a senior Oracle executive, has told employees the company plans to sell access...
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