Yahoo Finance Oracle (ORCL) Cloud Helps Red Bull Racing Prep for Season 2023
Oracle ORCL recently announced that Oracle Red Bull Racing will increase the use of the Oracle Cloud to create new opportunities for fan engagement, including the incredible ability to design the livery of the new car, the RB19.
The team will also increase its competitive edge on the track thanks to the billions of simulations that help sharpen the decisions of the best race strategists. Additionally, Oracle Cloud Infrastructure (OCI) will support Red Bull Powertrains with state-of-the-art computing capabilities for its development work ahead of the 2026 season.
Since 2013, Oracle has also been the sole title sponsor of America's Cup contender Team USA, owned by company founder Larry Ellison, having previously shared the role with BMW.
Red Bull insists that the use of Oracle Cloud Infrastructure had a direct impact on Max Verstappen's successful 2021 title campaign by increasing the number of strategy simulations run by 1000 times and by improving their accuracy by 10 times.
In 2022, Oracle reduced the latency and increased the volume and speed of race simulations, which led to a 25% increase in the total number of simulations run.
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Oracle Cloud to Boost Fan Engagement on the Paddock
As Oracle Red Bull Racing has taken victory after victory on track in 2022, Oracle has helped the team win more fans with its unique fan engagement platform, The Paddock. Powered by Oracle Cloud Customer Experience technology, the rewards-based digital loyalty program saw significant growth in 2022 with more than 250,000 new members, keeping them connected through videos, quizzes and contests that gave fans access exclusive ‘behind the scenes’ experience and allowed them to interact with the team and build a community with other fans.
This year, to give even more excitement to the fans, the team has launched a first-of-its-kind competition which allows members of The Paddock to design the team livery for all three American Grands Prix: Miami, Austin and Vegas.
Powering Powertrains Simulation With OCI
Oracle will also work with Red Bull Powertrains to make critical advances in the development of the next-generation hybrid engine that will power the team’s cars in the 2026 season. OCI will support some elements of high-performance computing workloads that run complex simulations and compute-intensive to model critical elements of powertrain design.
In addition to the upcoming Formula 1 season, Oracle will continue to support Oracle Red Bull Racing Esports. OCI will help the Esports team analyze data to make smarter racing decisions and better refine their performance. It will also enhance simulation technology to improve the preparation of esports drivers, just as it does with the Formula 1 team.
Oracle Faces Stiff Competition in Cloud Infrastructure Market
The Zacks Rank #3 (Hold) company has been riding on the robust demand for its infrastructure cloud services. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Companies like MercadoLibre, Xactly, 8x8 and Zoom Video Communications selected Oracle Cloud Infrastructure services to address business needs, which is a testament to the strength of its cloud offerings.
Despite its late entry, Oracle has been endeavoring to grab a larger share of the prospective cloud market, which is dominated by the likes of Amazon’s AMZN Amazon Web Services, Microsoft’s MSFT Azure Cloud and Alphabet GOOGL owned Google Cloud.
According to estimates from Synergy Research Group, Amazon’s market share in the worldwide cloud infrastructure market amounted to 34% in the third quarter of 2022, still exceeding the combined market share of its two largest competitors, Microsoft Azure and Google Cloud which stood at 21% and 11%, respectively.
In third-quarter 2022, global cloud infrastructure service spending climbed to $57 billion, bringing the industry total for the trailing 12 months to $217 billion. Amazon, Microsoft and Google accounted for two thirds of cloud infrastructure revenues in the three months ended Sep 30 with the eight largest providers controlling more than 80% of the market.
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