17:25 - 15.05.2025

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May 15, Fineko/abc.az. Oracle intends to invest $14 billion in the development of cloud and AI services in Saudi Arabia for the next 10 years, ABC.AZ reports, referring to Datacenter Dynamics.

According to Oracle CEO Safra Katz, the partnership with the kingdom will strengthen the economy, healthcare and relations with the U.S. The company already has two cloud regions in Jeddah and Riyadh, and a third is planned in Neomed.

The investment followed a similar move in the UAE. Oracle is expanding its presence in the Middle East amid the lifting of export restrictions on AI equipment.