Cloud computing has rapidly become a driving force in the technology industry, with companies like Oracle, Microsoft, Amazon, and Google investing in data centers worldwide to optimize data transfer speeds. In response to the growing demand, Oracle Corp has announced that it plans to invest $1.5 billion in Saudi Arabia in the coming years to build its cloud footprint in the kingdom.
The investment will be spread out over several years, and the plans for the opening of the Riyadh region are currently being finalized. Senior Vice President of Oracle, Nick Redshaw, stated that the company is still working with its suppliers to announce the actual launch date. In addition to the new public cloud region in Riyadh, Oracle will also expand the capacity of its cloud region in Jeddah, which was first opened in 2020.
This latest investment is part of the kingdom’s Vision 2030, a major economic transformation led by Crown Prince Mohammed bin Salman. The government has urged international companies to invest in the country and move their regional headquarters to Riyadh to take advantage of government contracts. Oracle, although trailing behind its larger competitors in the cloud computing market, was one of the first big tech companies to establish a data center in Saudi Arabia.
As global tech companies gather for a major tech conference in Riyadh, Oracle’s investment highlights the kingdom’s growing importance in the technology sector. The company’s commitment to expanding its cloud presence in the region is a testament to the strong demand for cloud computing and the potential for growth in the market.