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AUSTIN - Oracle (NYSE:ORCL), a prominent player in the software industry with a market capitalization of nearly $700 billion and annual revenue exceeding $57 billion, announced Wednesday its pledge to support the Centers for Medicare and Medicaid Services’ Digital Health Ecosystem and Interoperability Framework. The commitment was made during the Make Health Tech Great Again event at the White House. According to InvestingPro, Oracle maintains strong financial health metrics, positioning it well for such strategic initiatives.
Oracle executives Mike Sicilia and Seema Verma committed to collaborating with the federal government and industry leaders to develop a more interoperable, secure, and AI-enabled healthcare system.
"Thanks to President Trump’s leadership, a broad range of important stakeholders have committed to eliminating the walled gardens that have thwarted true healthcare data interoperability," said Verma, executive vice president and general manager of Oracle Health and Life Sciences.
Oracle Health provides AI-powered cloud technology designed to enable interoperable data exchange and longitudinal health records. The company aims to help practitioners coordinate care across health systems, make informed decisions, and reduce operational costs.
"We are proud to work with the Trump administration to help address the long-standing lack of data interoperability that makes it harder for healthcare providers to deliver efficient, coordinated, and informed care," said Sicilia, president of Oracle Industries.
The initiative focuses on creating an open medical records system using open standards to enable secure data sharing across the healthcare industry. According to the press release statement, this approach could help health systems reduce administrative waste and provide practitioners with better information.
Oracle joins other industry leaders in signing the pledge, which aims to accelerate and simplify healthcare data sharing nationwide. The company’s stock has shown remarkable strength, trading near its 52-week high of $253.07, though InvestingPro analysis suggests it may be trading above its Fair Value. For deeper insights into Oracle’s healthcare sector positioning and comprehensive financial analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro, along with 18 additional key ProTips about the company’s performance.
In other recent news, Oracle Corporation has announced a significant partnership with OpenAI to expand its data center capacity by 4.5 gigawatts in the United States. This expansion will increase OpenAI’s total AI data center capacity to over 5 gigawatts, supporting more than 2 million chips. Additionally, Oracle has integrated its PINACLE Connect banking platform with Oracle Fusion Cloud ERP, streamlining financial operations for corporate clients. In terms of financial ratings, Moody’s has revised Oracle’s outlook to negative, citing expectations of elevated leverage and negative free cash flow due to Oracle’s AI infrastructure expansion.
Furthermore, Oracle is collaborating with Bloom Energy to provide onsite power to its Cloud Infrastructure data centers in the U.S., utilizing Bloom’s fuel cell technology for rapid deployment. Analysts at Citizens JMP have reiterated a Market Outperform rating for Oracle, maintaining a price target of $315.00. This comes as Oracle’s stock has seen a 43% increase year-to-date, outperforming major indices like the S&P 500 and Russell 3000. These recent developments reflect Oracle’s strategic moves in AI and cloud computing, as well as its ongoing partnerships and financial assessments.
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