Oracle’s Leadership Shift: New Co-CEOs Take Helm Amidst AI Expansion and OpenAI Deal
Oracle’s Leadership Shift: New Co-CEOs Take Helm Amidst AI Expansion and OpenAI Deal
Oracle has announced a significant leadership transition, with Safra Catz stepping down as CEO after an 11-year tenure. Insiders Clay Magouyrk and Mike Sicilia have been promoted to co-CEOs, tasked with steering the tech giant into the burgeoning AI era. Magouyrk previously spearheaded Oracle’s cloud infrastructure unit, while Sicilia oversaw the company’s applications and AI products.
This strategic shift comes on the heels of Oracle securing a monumental $300 billion computing power deal with OpenAI last week. In a joint statement, the new co-CEOs affirmed their focus on leveraging this partnership to solidify Oracle’s position in the artificial intelligence landscape.
Reflecting on her departure, Catz expressed pride in Oracle’s current standing: “Today, Oracle is recognized as the cloud of choice for both AI training and inferencing. I’m very proud of that. Oracle’s technology and business have never been stronger. And our breathtaking growth rate points to an even more prosperous future. At this time of strength is the right moment to pass the CEO role to the next generation of capable executives.” Catz will maintain her involvement with the company, transitioning to vice chair of the board of directors.
The leadership changes also coincide with major geopolitical and business developments. As China and the US reportedly near a final agreement for the sale of TikTok to an American consortium, Oracle—already TikTok’s US cloud partner—is widely expected to be among the buyers. Furthermore, Catz recently participated in a White House dinner, joining other tech leaders to discuss and laud the administration’s AI policies.
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