Oracle ORCL stock was rising sharply Tuesday after the enterprise software company posted better-than-expected results and announced a new partnership with Amazon Web Services.
“The biggest news of all was signing a MultiCloud agreement with AWS—including our latest technology Exadata hardware and Version 23ai of our database software—embedded into AWS cloud datacenters,” Oracle CEO Safra Catz said.
The new agreement with AWS will enable enterprise customers to connect data in their Oracle Database to applications running on Amazon Web Services. Catz said Amazon AWS customers will get access to Oracle’s new database in December.