Oracle announced it will invest $3 billion in Germany and the Netherlands over the next five years to meet the rising demands for AI and bolster its infrastructure powering artificial intelligence and cloud offerings in the European market.
Oracle is planning to spend $2 billion in Germany and $1 billion in the Netherlands, the company said in separate statements. Additionally, Oracle said that the spending efforts will lead to a "significant expansion of AI infrastructure capacity" in both countries.
The company said the investments will help a wider range of public and private companies, along with local governments, "migrate any type of workload to the cloud, modernize their applications, and take advantage of the latest AI innovations."
The company expects its capital spending to surpass $25?billion in fiscal 2026, with the bulk of the expenditure committed to data center infrastructure, including for AI.
"As we bring more capacity online, our revenue and profit growth will further accelerate," Oracle CEO Safra Catz said in June.