Oracle, Cohere team up to develop generative AI services for businesses
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Oracle (NYSE:ORCL) said it plans to develop powerful, generative AI services for organizations worldwide.
Oracle is collaborating with Cohere â an AI platform for enterprise â to provide native generative AI services to help organizations automate end-to-end business processes, improve decision-making.
Last week, Cohere â which develops large language models (LLMs) â announced that it raised $270M in a new series C funding round, with participation from investors including NVIDIA (NVDA), Oracle (ORCL) and Salesforce's (CRM) venture capital arm.
Oracle said that the generative AI services will be built on the Oracle Cloud Infrastructure (OCI) and use the company's Supercluster capabilities.
Under the collaboration, Cohere will train, build, and deploy its generative AI models on OCI.
"Our partnership with Cohere will enable our customers to easily embed generative AI into their business. Using Cohere's foundational models, customers can securely incorporate their own data to train specific models, deploy them on best-in-class AI infrastructure through OCI, and experience the business benefits immediately in their applications," said Clay Magouyrk, executive vice president, Oracle Cloud Infrastructure.
Earlier on Tuesday, Oracle' stock rose following its Q4 results post-market on Monday. The results, among other things, saw the stock being upgraded at Goldman to Neutral from Sell. Meanwhile, several other firms also raised their price target on the tech giant.
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