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Oracle, a US technology company, has announced an investment exceeding $1bn (930m) in Spain, focusing on artificial intelligence (AI) and cloud computing advancements.

This investment, which will be made over the period of ten years, will be used to establish a third cloud region in Madrid, to cater to the increasing demand for Oracles AI and cloud services within the country.

Oracle launched the first cloud region in 2022.

Madrids upcoming cloud region is designed to facilitate the migration of diverse workloads to the cloud for both public and private sector entities.

It aims to modernise applications and foster innovation through data, analytics, and AI, while also ensuring compliance with stringent regulations such as the Digital Operational Resilience Act and the European Outsourcing Guidelines.

Telefnica Espaa has been selected as the host partner for this new cloud region.

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Oracle also operates an EU Sovereign Cloud, which already has a region in Madrid.

This specialised cloud service caters to customers handling sensitive, regulated, or strategically important data and applications.

The EU Sovereign Cloud in Madrid is managed by EU-based personnel and is tailored to support workloads that must comply with EU guidelines on sovereignty and data privacy.

Spains Minister for Digital Transformation and Public Administration Jos Luis Escriv said: The opening of the third Oracle cloud region in Spain is excellent news for our country. The investment announced by Oracle provides a significant boost that will help Spanish enterprises and public sector organizations innovate with AI and continue advancing on the path of digital transformation.

Oracle Spain country leader Albert Triola said: Spanish enterprises and public sector organisations are rapidly embracing the cloud to gain access to the latest digital technologies such as AI, and the upcoming public cloud in Madrid will help them address data residency requirements as well as regulations in key sectors such as financial services.

With our plans to invest an additional $1bn in Spain over the next 10 years, we are reaffirming our commitment to helping Spanish organisations of all sizes and industries including those across Spains small and medium-sized enterprises and the financial services industry accelerate their adoption of cloud technologies to boost business performance and resilience.

Oracles announcement follows its recent collaborations with Google Cloud and OpenAI for its cloud infrastructure.

In April, Oracle disclosed plans to invest more than $8bn in the next ten years to support the growing demand for cloud and AI infrastructure in Japan.

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Oracle to invest more than $1bn in AI and cloud computing in Spain - Verdict