Oracle Stock (ORCL) Soars as it Seals Gemini AI Deal With Alphabet
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It means that Gemini will now be offered through Oracle's cloud computing services and business applications.
Corporate Tools
Businesses that use Oracle's various applications for corporate finances, human resources and supply chain planning will now also be able to choose to use Google's models inside those apps.
Those Oracle customers will be able to pay for the Google AI technologies using the same system of Oracle cloud credits they use to pay for Oracle services. The two companies did not disclose what, if any, payments will flow between them as part of the deal.
The deal is similar to one that Oracle struck with Elon Musk's xAI back in June, and will let software developers tap Google's models to generate text, video, images and audio while using Oracle's cloud.
Oracle plans to make Google's entire range of Gemini models available via the OCI Generative AI service through new integrations with Vertex AI, including cutting-edge models for video, image, speech, and music generation and specialized industry models like MedLM.
In the future, Oracle will collaborate with Google Cloud to make Gemini models via Vertex AI available as an option within Oracle Fusion Cloud Applications, providing customers with an opportunity to enhance workflows in finance, HR, supply chain, sales, service, and marketing.
AI Drive
'Oracle has been intentional in offering model choice curated for the enterprise, spanning open and proprietary models,' said Clay Magouyrk, president, Oracle Cloud Infrastructure. 'The availability of Gemini on OCI Generative AI service highlights our focus on delivering powerful, secure, and cost-effective AI solutions that help customers drive innovation and achieve their business goals.'
For Oracle, the move advances the company's strategy of offering a menu of AI options to its customers rather than trying to push its own technology. It is already a huge player in the cloud services market.
It's also a plus for Google as it looks to expand the reach of its cloud offerings and take corporate customers away from rivals such as Microsoft (MSFT).
Is ORCL a Good Stock to Buy Now?
On TipRanks, ORCL has a Moderate Buy consensus based on 24 Buy and 10 Hold ratings. Its highest price target is $325. ORCL stock's consensus price target is $244.66, implying a 1.11% downside.
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