2023-09-12 10:00:32.AIbase.1.3k
Oracle's Q1 Revenue Declines as It Promotes AI Cloud Contracts
Oracle's Q1 revenue fell short of expectations, leading to a 9% drop in stock price. The company is accelerating the transition of Cerner to the cloud, which has slowed its revenue growth. Oracle is heavily promoting AI cloud contracts, having signed contracts worth over $4 billion.
