Oracle Shares Dip 1.5% After Announcing Major Gov't Discount Deal

Benzinga

Oracle shares dipped 1.5% Monday after the company announced a broad pricing deal with the U.S. government aimed at reducing federal IT costs, according to Investopedia. Under the agreement, Oracle will offer up to 75% off license-based technology and substantial discounts on cloud and AI services through November 2025. The deal is part of the GSA’s OneGov program, consolidating agency tech needs to unlock deeper savings and modernize infrastructure at scale. Oracle CEO Safra Catz said AI-powered tools on Oracle Cloud will help agencies save taxpayer dollars while expanding capabilities. GSA chief Stephen Ehikian called it a “landmark agreement.” Shares remain up about 40% year-to-date.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Oracle shares dipped 1.5% Monday after the company announced a broad pricing deal

00:06with the U.S. government aimed at reducing federal IT costs, according to Investopedia.

00:11Under the agreement, Oracle will offer up to 75% license-based technology

00:15and substantial discounts on cloud and AI services through November 2025.

00:20The deal is part of the GSA's OneGov program and consolidates agency tech

00:24needs to unlock deeper savings and modernize infrastructure and scale.

00:28Oracle CEO Safra Katz said AI-powered tools on Oracle Cloud

00:32will help agencies save taxpayer dollars while expanding capabilities.

00:36GSA Chief Stephen Elkian called it a landmark agreement.

00:40Shares remain up about 40% year-to-date.

00:43For all things money, visit Benzinga.com.

Category

Transcript

Comments

Recommended