Oracle (NSDQ: ORCL) is building new data centers to support cloud computing. The company is investing $285M and will break ground on the 200,000-square-foot facility this summer. Oracle's president Safra Catz said that the center will help support its on-demand business, plus research and development and customer service operations.
Oracle's on-demand software operation grossed $174 million in revenue in its fiscal quarter ended March 26, up 23% from the same quarter last year. Based on fairly consistent quarter-to-quarter growth rates over the past few years, Oracle On Demand is on track to gross around $700 million in annual revenue for the company's fiscal year ending in June, and Oracle cites 3.6 million users of its on-demand applications.