Oracle invests over $1bn into Madrid to drive AI development

Image of Madrid| Oracle invests over $1bn into Madrid to drive AI development

Oracle has announced its plans to invest over $1bn to open a third cloud region in Spain’s capital, Madrid, and drive AI skills development across the country. 

The upcoming cloud region in Madrid will enable Oracle customers and partners across all industries in Spain to migrate mission-critical workloads from their data centers to Oracle Cloud Infrastructure. They can also gain additional low-latency access to cloud services to help them derive better value from their data and leverage high availability and disaster recovery capabilities.

The investment will also help public and private sector organizations to migrate all types of workloads to the cloud, modernize their applications and innovate with data, analytics and AI.

José Luis Escrivá, minister for digital transformation and public administration, Government of Spain, said: “The opening of the third Oracle cloud region in Spain is excellent news for our country.

“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, also commented: “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 6bn 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.”