Oracle Corporation has announced the promotion of Clay Magouyrk and Mike Sicilia to co-CEOs, succeeding Safra Catz, who becomes Executive Vice Chair of the Board. Both Magouyrk and Sicilia, with extensive backgrounds in cloud infrastructure and industry applications, aim to lead Oracle into the AI era, enhancing its capabilities in artificial intelligence across various sectors. Additionally, the company has made other executive promotions to strengthen its leadership team.

Oracle is strategically positioning itself to dominate the AI compute market by leveraging its cloud infrastructure and specialized AI services. The company's focus on partnerships and innovative technologies aims to attract a diverse range of clients, enhancing its competitive edge in the rapidly evolving AI landscape.