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LAS VEGAS - Oracle Corporation (NYSE: NYSE:ORCL) has announced the introduction of a new artificial intelligence (AI)-centric application development infrastructure, aimed at enabling developers to rapidly create sophisticated enterprise applications. The announcement was made at Oracle CloudWorld on Monday.
The new infrastructure, termed generative development (GenDev), is built on Oracle Database 23ai technologies and is designed to streamline the process of app creation by allowing developers to focus more on application functionality rather than data infrastructure complexities. GenDev integrates several technologies, including JSON Relational Duality Views, AI Vector Search, and APEX, to facilitate the use of generative AI in development.
Juan Loaiza, executive vice president of Mission-Critical Database Technologies at Oracle, emphasized the importance of evolving the application development infrastructure to fully leverage AI in app generation. He likened the innovation to paving roads for cars, suggesting that GenDev enables the swift creation of modular, evolvable enterprise applications that are both understandable and safe.
Key features of the Oracle Autonomous Database on 23ai were highlighted, including the Select AI with retrieval-augmented generation (RAG) to reduce the risk of hallucinations in AI responses, and broader support for large language models (LLMs) like Google (NASDAQ:GOOGL) Gemini, Anthropic Claude, and Hugging Face. This integration with 35 different LLMs across seven providers offers customers a variety of choices for building GenDev applications.
Additionally, Oracle has introduced enhancements to its Data Studio AI and Graph Studio, as well as an Autonomous Database for Developers with a flat hourly rate, aimed at providing a more affordable and predictable cost for development use cases. A downloadable container image is also available, allowing developers to manage databases on their laptops and integrate them into their continuous integration and delivery (CI/CD) pipelines.
Oracle's announcement reflects its commitment to providing innovative solutions that harness the power of AI for enterprise application development. This news is based on a press release statement from Oracle Corporation.
In other recent news, Oracle Corporation has reported impressive financial results, with an 8% increase in total revenue to $13.3 billion. The company's cloud revenue saw a significant rise of 22% to $5.6 billion, and Infrastructure as a Service (IaaS) revenue surged by 46%. Oracle has also unveiled new artificial intelligence capabilities within its Oracle Fusion Data Intelligence suite, designed to improve business decision-making. In addition, the company announced the beta release of Oracle Code Assist, an AI tool aimed at boosting developer productivity, and upgrades to its OCI Kubernetes Engine. Oracle's plans include the integration of Oracle Cloud Infrastructure Zero Trust Packet Routing into its cloud network for enhanced security, and the future addition of Oracle Intelligent Data Lake to its data intelligence platform. Analyst firms such as CFRA, TD Cowen, and BMO Capital have responded to these developments by maintaining or adjusting their price targets for Oracle. These are some of the recent developments at Oracle Corporation.
InvestingPro Insights
Oracle Corporation (NYSE: ORCL) has made significant strides with its latest announcement at Oracle CloudWorld, demonstrating its commitment to advancing AI in application development. This push towards innovation is not just about keeping pace with technology trends, but also about solidifying Oracle's position as a prominent player in the Software industry, a status underscored by InvestingPro Tips. Oracle's initiatives, such as the new GenDev infrastructure, are set to enhance its enterprise application offerings, potentially impacting its market performance.
In the context of financial metrics, Oracle's dedication to innovation and growth is reflected in its substantial market capitalization, which stands at a robust 385.52 billion USD. This figure represents Oracle's significant presence in the market and investor confidence in its business model and future prospects. Moreover, the company's P/E Ratio, which currently hovers around 36.05, suggests that Oracle is trading at a high earnings multiple. This could indicate that investors are willing to pay a premium for Oracle's shares, expecting future earnings growth to justify the current valuation.
Oracle's commitment to shareholder returns is further evidenced by its consistent dividend payments. Notably, the company has raised its dividend for 10 consecutive years and maintained dividend payments for 16 consecutive years, showcasing its financial stability and reliability as an investment. This track record of dividend growth is a strong signal to investors looking for companies with a stable and potentially growing income stream.
For readers interested in gaining deeper insights and additional tips on Oracle's financial health and market performance, they can explore more on InvestingPro, which currently lists several other InvestingPro Tips for Oracle Corporation. This includes information on the company's trading patterns, profitability, and analysts' predictions for the year.
InvestingPro provides a comprehensive suite of tools and real-time data to help investors make informed decisions. For further details on Oracle, including exclusive metrics and additional InvestingPro Tips, visit https://www.investing.com/pro/ORCL.
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