Prime Highlight
- Oracle has appointed Clay Magouyrk and Mike Sicilia as co-CEOs, marking a significant leadership transition.
- Safra Catz will step down as CEO after a decade and move into the role of executive vice chair of the board of directors.
Key Facts
- Oracle has deepened its AI infrastructure focus, joining the $500 billion Stargate Projectalongside OpenAI and SoftBank.
- The company has struck major AI computing deals, including $300 billion with OpenAIand $20 billion with Meta.
Background
Oracle announced on Monday that Clay Magouyrk and Mike Sicilia will serve as co-CEOs, marking a major leadership shift as the company expands its presence in AI infrastructure.
Magouyrk joined Oracle in 2014 from Amazon Web Services and helped found Oracle’s cloud engineering team. He has led the cloud infrastructure business unit as president for over a decade. Sicilia has served as president of Oracle’s industries division since June and has held multiple roles since joining the company through the 2008 acquisition of Primavera Systems.
Safra Catz, Oracle’s CEO since 2014, will transition to the role of executive vice chair of the board of directors. “Oracle’s technology and business have never been stronger. At this time of strength, it is the right moment to pass the CEO role to the next generation of capable executives,” Catz said in a statement.
Oracle, traditionally known as a cloud infrastructure provider, has increasingly focused on AI. Earlier this year, it joined the $500 billion Stargate Project with OpenAI and SoftBank to build AI data centers in the U.S. The company has also signed major deals to supply computing power to AI leaders, including $300 billion for OpenAI and a smaller $20 billion deal with Meta, Reuters reported.
The promotion of Magouyrk and Sicilia underscores Oracle’s strategy to combine cloud leadership with growing AI infrastructure capabilities. The co-CEO structure is expected to guide Oracle through an era of rapid growth in AI, cloud computing, and enterprise services.
