Ellison says Oracle spending ‘billion’s on Nvidia semis in 2023, Reuters says

Oracle (ORCL) founder and chairman Larry Ellison said that the company is spending “billions” of dollars on chips from Nvidia (NVDA) in 2023 as it builds on a cloud computing service targeting a new wave of AI companies, Reuters’ Stephen Nellis reports, citing comments from Ellison at an Ampere event. “This year, Oracle will buy GPUs and CPUs from three companies,” Ellison said. “We will buy GPUs from Nvidia, and we’re buying billions of dollars of those. We will spend three times that on CPUs from Ampere and AMD. We still spend more money on conventional compute.”