Oracle Corporation (NYSE:ORCL) showcased its second generation cloud infrastructure at its open world conference that was held in San Francisco.
The new cloud infrastructure mainly targets third-party developers and allows them to run their applications using Oracle’s data centers. The new cloud infrastructure platform is expected to rival the AWS platform from Rival Amazon.com, Inc. (NASDAQ:AMZN). Apart from unveiling the second generation of its infrastructure, Oracle will also be launching its latest database version in the cloud.
The event also highlighted Oracle’s increasing focus on cloud technology with more than 400 sessions being held at the San Francisco event. One of the offerings that the company revealed was the Dense IO Shape, a virtual machine type that the company is offering as part of its second generation offering. It offers 512 GB, 28.8TB, and 36 cores with a fee of $5.40 per hour. The product is believed to offer an input-output capacity that is ten times higher than that of Amazon Web Services.
“Amazon’s lead is over. Amazon’s going to have serious competition going forward,” stated Larry Ellison, Oracle’s executive chairman, and CTO.
Ellison stated that the company would be promoting the new cloud infrastructure for the rest of the current year and next year until May 2017. The new cloud infrastructure is expected to compete with rivals such as AWS from Amazon, Azure from Microsoft Corporation (NASDAQ:MSFT), the Google Cloud platform from Alphabet Inc (NASDAQ:GOOGL) and IBM’s cloud offerings.
The event was the 20th annual openWorld conference that the company hosted. Prior to the launch of the event, there were expectations that the company would most likely talk about how it would integrate its latest acquisitions. Oracle has been diverting its focus to key acquisitions over the past few months such as Opower, NetSuite, and LogFire which it believes will boost its cloud business.
Oracle’s stock closed the recent trading session at $797.97 marking a $3.26 drop equivalent to 0.41% compared to the previous trading session.