Oracle is reorganizing its executive team in pursuit of its goal of dominating AI infrastructure. Clay Magouyrk and Mike Sicilia will be promoted to co-CEO positions, the business announced Monday.
In 2014, Magouyrk left Amazon Web Services to join Oracle. He has over ten years of experience as the president of Oracle’s cloud infrastructure business unit and was one of the original members of the company’s cloud engineering team.
Since June, Sicilia has presided over Oracle’s industries segment. Since joining the firm through Oracle’s 2008 acquisition of Primavera Systems, a project portfolio management company, he has held a number of different positions.
After serving as Oracle’s CEO since 2014, Safra Catz is taking on a new position as the executive vice chair of the company’s board of directors.
Oracle is now acknowledged as the preferred cloud for AI inferencing and training. In a statement, Catz stated, “I am really proud of that.” Oracle’s business and technologies have never been more robust. Furthermore, our remarkable rate of growth suggests an even more prosperous future. The best time to transfer the CEO position to the upcoming generation of competent executives is now.
Oracle has long been recognized as a provider of cloud infrastructure, but it has just begun to solidify its position in the competition for AI infrastructure. The business stated earlier this year that it, along with OpenAI and SoftBank, will be contributing $500 billion to the Stargate Project, which aims to construct data centers and AI infrastructure in the United States.
The business reportedly signed a historic agreement with OpenAI earlier this month to provide the AI startup with $300 billion in computational power. The corporation was signing a lesser, but still significant, $20 billion compute deal with Meta, according to a report from Reuters on Friday.
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