Oracle promotes two presidents to co-CEO role

Core Insights - Oracle is restructuring its executive leadership by promoting Clay Magouyrk and Mike Sicilia to co-CEO roles, aiming to enhance its position in AI infrastructure [1][2] - Safra Catz, the current CEO since 2014, will transition to the role of executive vice chair of Oracle's board of directors [2][3] - Oracle is recognized as a leading cloud provider for AI training and inferencing, with a strong growth trajectory and strategic initiatives in AI infrastructure [3] Leadership Changes - Clay Magouyrk has been with Oracle since 2014, previously working at Amazon Web Services, and has over a decade of experience leading Oracle's cloud infrastructure business [1][2] - Mike Sicilia has held various roles at Oracle since its acquisition of Primavera Systems in 2008 and was most recently the president of Oracle's industries division [2] Strategic Initiatives - Oracle is participating in the $500 billion Stargate Project to develop data centers and AI infrastructure in the U.S., collaborating with OpenAI and SoftBank [3] - The company has secured a significant $300 billion compute deal with OpenAI and is also finalizing a $20 billion compute agreement with Meta [4]