Oracle to invest US$3bil in AI, cloud expansion in Germany, Netherlands
The cloud service provider plans to allocate US$2 billion to Germany and US$1 billion to the Netherlands.
Major technology firms have poured tens of billions of dollars into developing AI infrastructure following the success of OpenAI's ChatGPT.
Oracle, whose cloud offerings support companies in building AI infrastructure, has seen its shares surge about 38 per cent so far this year.
In June, the company raised its annual revenue forecast, driven by strong demand for its AI-related cloud services.
Oracle is also part of a joint venture called Stargate, aimed at delivering large-scale computing capabilities to OpenAI.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
37 minutes ago
- The Star
60-year-old farmer in Anhui province, China builds submarine by hand
Zhang Shengwu and his submarine, "Big Black Fish". - Photo: CCTV News BEIJING: Zhang Shengwu, a 60-year-old farmer from Maanshan, Anhui province, successfully built a submarine by himself, which has drawn widespread attention. The 5-metric-ton home-built submarine, named "Big Black Fish", can dive to 8 meters, CCTV News reported. Zhang is a villager from Zhangdu village in Maanshan, Anhui province. He has been fascinated by invention since childhood. Over the years, Zhang has worked in carpentry, welding, and the shipping industry. Over 20 years ago, he returned to his hometown and built a wharf to sell sand, where he spent his days watching cargo ships come and go. Zhang Shengwu's first-generation submarine. - Photo: CCTV News In 2014, Zhang saw a person build a submarine through a TV programme, this inspired him to build one by himself. Despite his family's concerns over the cost and risk, Zhang insisted on building his own submarine. Drawing on his practical experience with boats and handcrafting, Zhang spent about 5,000 yuan (US$700) on materials. It took him six months to build his first submarine, which is 6 meters long, 1.2 meters high and weighs 2 tons. Although his first submarine suffered from sealing issues during submersion, the invention earned him a utility model patent. This submarine earned Zhang a national utility model patent. The only fly in the ointment is that it leaks when submerged. In 2016, he developed a surface vessel that generated minimal waves while in motion. This invention also received a utility model patent. However, this grassroots inventor had a bigger dream, his most ambitious project is the current new generation submarine. He invested over 40,000 yuan ($5,570) into its construction. This new submarine has a length of 7 meters, a height of 1.8 meters, and weighs 5 tons. It can dive to 8 meters, holds a capacity for two people and travels at a minimum speed of 4 nautical miles per hour. To improve its stability, Zhang poured about 2 tons of concrete into the bottom of the submarine and added two ballast tanks at both ends. "There are two ballast tanks, water fills the tanks to dive, and drains to the surface. The concrete provides weight to maintain stability," he explained. He also reinforced all weld points and used silicone and adhesive for watertight sealing. Watching his submarines grow larger and his techniques improve, he dreams of building an even larger, fully functional one. "Only when you try and succeed, you do realize what you're truly capable of," Zhang said. - China Daily/ANN
The Star
42 minutes ago
- The Star
M'sian designers shine in Tokyo
Eco-innovation: Lew's 'Mangrove Living Museum' seamlessly blends architecture with nature. Malaysia recently made waves on the global design stage. Going head-to-head with top talents from over 16 countries and regions, Malaysia's national winners rose to the challenge at the AYDA Awards and Creative Colour Awards (CCA) 2024/2025 Grand Finale in Tokyo, Japan, on June 20. Lew received the 'Best Sustainable Design Award' for his project. They brought home four awards, proving that Malaysian creativity, purpose and design excellence truly stand tall on the world stage. From young student designers tackling real-world issues to professional architects transforming schools and housing into vibrant, meaningful spaces, these wins reflect the depth of Malaysia's design community and its commitment to people-first innovation. At the AYDA Awards, Lew Wai Fong from Universiti Malaya earned the 'Best Sustainable Design Award' in the architectural category for his project, Tanjung Piai's Mangrove Living Museum. His vision includes a regenerative space designed to preserve one of Malaysia's most threatened ecosystems while reconnecting local communities with nature. 'I wanted to show that sustainability and beauty can co-exist and that we don't have to choose between progress and preservation,' said Lew, who took home US$1,000 (RM4,250) for his effort. Meanwhile, Tan Ee Wei of Equator College, Penang, received an Honorary Mention (Interior Design) for HomeSEED, a resilience training centre for the homeless in George Town. 'This project was born from a place of deep empathy for my community. I hope it shows that design can offer hope, structure and skills,' said Tan, who received US$500 (RM2,125). Nippon Paint Malaysia general manager Tay Sze Tuck said these forward-thinking and innovative students are curating blueprints for a kinder, more sustainable country. 'What's inspiring is how these young designers aren't waiting for change; they're making it through design, and using creativity to respond to the issues we face as a society,' he said. At the CCA, FEI Architect won the 'Best in Public Spaces Award' for transforming SMJK Poi Lam's multipurpose hall in Ipoh, Perak, into an eye-catching structure. The company was awarded US$2,500 (RM10,623). The CCA 'Architectural Best in Residential Exterior Award' was presented to Mak Arkitek Konsult for V21 Residence@KKIP, a social housing project designed for workers of the Kota Kinabalu Industrial Park in Sabah. The company was also awarded US$2,500. Tay said Malaysia's wins were a beautiful reminder that design excellence isn't confined to any one stage of life. 'Whether you're just starting out or already shaping skylines, what matters is purpose, creativity and heart. These four winners have all of that and more.'
New Straits Times
an hour ago
- New Straits Times
Market jitters to set tone for ringgit next week, with RM4.24-RM2.46 range expected
KUALA LUMPUR: The ringgit is expected to hover around RM4.24 to RM4.26 next week amid mixed signals in the market. This follows the anticipation of a potential meeting between United States (US) President Donald Trump and Chinese leader Xi Jinping, as well as the upcoming Federal Open Market Committee (FOMC) meeting by the end of the month. SPI Asset Management managing partner Stephen Innes said the market is expected to adopt a tone of cautious optimism next week, as the potential Trump-Xi meeting could reset the US-China dialogue, lifting broader Asian sentiment. "For Malaysia, any thaw in trade tensions could brighten the macro outlook and, by extension, offer a floor to the ringgit in the near term. That diplomatic backdrop, however tentative, has helped curb more aggressive ringgit selling into the weekend," he told Bernama. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the next FOMC meeting will be held on July 29 and 30, and therefore, market participants will be closely watching to see whether the US Federal Reserve (Fed) will cut the Fed Fund Rate. "Next week, there are not many data points to look at other than some comments from the Fed officials; thus, the market will be adopting a wait-and-see stance," he added. Meanwhile, Kenanga Investment Bank Bhd said the ringgit remains supported by improving domestic fundamentals, rising foreign direct investment inflows, and infrastructure catalysts such as the resumption of the Mass Rapid Transit 3 project. "We expect US dollar-ringgit to range between RM4.23 to RM4.25 per US dollar in the near term," it said in a note today. On a Friday-to-Friday basis, the ringgit ended the week better against the greenback, closing at 4.2410/2455 as compared with 4.2475/2525 previously. The local note also traded higher against a basket of major currencies. The ringgit appreciated vis-à-vis the Japanese yen to 2.8517/8549 from 2.8893/8929, and strengthened against the British pound to 5.6999/7060 from 5.7524/7592 last Friday. It also rose versus the euro to 4.9336/9388 from 4.9679/9737 at the end of last week. Against Asean currencies, the ringgit traded mostly higher. The local note firmed against the Singapore dollar to 3.3027/3065 from 3.3186/3228, strengthened versus the Indonesian rupiah to 260.2/260.6 from 261.8/262.3 previously, and improved against the Philippine peso to 7.41/7.43 from 7.52/7.53 last Friday. However, it weakened versus the Thai baht to 13.3027/3065 from 13.0668/0886. -- BERNAMA
