American software company Oracle invests €855 mil. in developing AI in Netherlands

The American software company Oracle is investing $1 billion, approximately €855 million, over the next five years in the development of artificial intelligence (AI) in the Netherlands. The company says demand for this technology is growing rapidly and that it therefore wants to expand its capacity.

In the Netherlands, Oracle has a headquarters in Utrecht and a branch in Amsterdam. The company declined to disclose its employee count. The company may build new locations as a result of this investment, but this “depends on market demand,” a spokesperson said. The company said it could not comment “at this stage” on the impact on employment.

According to outgoing Minister Vincent Karremans (Economic Affairs, VVD), the American company’s investment is “a recognition of the quality of our digital infrastructure and a boost to our economy.”

In March, Oracle announced it would invest $5 billion in artificial intelligence in the United Kingdom. The company is also investing $1 billion in the technology in Spain.

The software company also plans to invest $2 billion in Germany over the next five years due to the growing demand for AI applications and cloud service infrastructure, reported the German press agency dpa. Most of that money will go to the Frankfurt region, where Oracle aims to significantly expand its AI capacity and expand its cloud infrastructure.