: Oracle to invest in AI and cloud computing in Spain

Jun 21, 2024 | Posted by Abdul-Rahman Oladimeji

Oracle has announced plans to invest over $1 billion in artificial intelligence (AI) and cloud computing in Spain which will enable Oracle to open a third cloud computing region in the country, located in Madrid.

“The opening of the third Oracle cloud region in Spain is excellent news for our country,” said José Luis Escrivá, minister for digital transformation and public administration, Government of Spain. “The investment announced by Oracle provides a significant boost that will help Spanish enterprises and public sector organizations innovate with AI and continue advancing on the path of digital transformation.”

Miguel López-Valverde, councilor for digitalization, Government of the Region of Madrid, said: “We are convinced of the importance of public-private collaboration in this area, and of facilitating the development of cloud infrastructure in our region. Over the next three years, the region of Madrid is expected to receive investments of more than six billion Euros from the cloud industry, which is critical to helping us build a digital economy capable of creating high-quality jobs, attracting investment, and retaining talent.”