Derrick Wood: Thanks for taking my question and I’ll echo my congratulations, especially on sustaining very high OCI growth. Larry, one area we’ve been doing more work on is how cloud vendors can help transform the telco market, including migrating their IT infrastructure and their network operations to the public cloud, which should lead to greater efficiencies and also give them a more effective platform to roll out new 5G and edge application services. I know you guys touched on this a bit at last year’s Analyst Day, but I was just hoping to get an update on how you’re thinking about that telco opportunity with the Oracle Stack, especially with OCI? Who’s some of the telco operators you’re partnering with? And how you see this playing out over the next couple of years?
Yes. This is an exciting business for us. I mean, we’re actually creating dedicated data centers for Vodafone. I’m not sure how many we’ve already built as yet. But if you will, Vodafone is moving a substantial part of their business into the Oracle Cloud. And again, we have this ability to build data centers for customers. And those data centers are OCI data centers that we run for them, but they are dedicated to workloads at a particular customer. Nomura, the first of them we built a few years ago in Japan for Nomura. And they have a primary and now they have a backup, they run the Tokyo Stock Exchange on that, and they sell it into financial services in Japan. But that’s an OCI data center that we built for Nomura, where they’re reselling the capabilities.
Vodafone is again another example of someone who were building dedicated data — these are OCI data centers that we run there. In our constellation of data centers, they look like all the other OCI data centers. They’re automated like all the other OCI data centers. So we take advantage of those economies of scale and that skilled labor that runs them. And a lot — again, a lot of it is AI, but a lot of it we still have human beings. We’ve done that for Vodafone. Same thing with DISH Network’s entry into telephony is enabled by similar architectural approach using OCI. I can go on and on. But we have — but it’s one of our industries of emphasis. And I think you’ll see us — and that’s going to be a huge area of growth for us. As telcos, we’ve always been very strong in telcos.
And now they’re beginning to move to the cloud. And we’re seeing some major commitments from some of our largest customers around the world. We’re also seeing financial services companies take a slightly different point of view, but where they want to keep things, if you will, “on-premise.” But since we can build an OCI region and dedicate it to a bank, there we’re doing more, if you will, call it, clouded customer where we built a dedicated region for a financial service. Nomura was an example, Nomura in Japan, but there are other examples. We build these clouds for banks. So I mean, huge industries moving to the cloud in a slightly different way than other industries, not moving to public cloud, but rather preferring to have these dedicated regions.
So it’s just their application, just their applications in this cloud. We have the ability to do that. Again, the Amazon does not, and Microsoft does not, and Google does not.
Operator: Your next question comes from the line of John DiFucci with Guggenheim.
John DiFucci: I think this question is for Safra. We’ve heard a lot about your committed cloud mega deals, but you sometimes have talked about pure consumption or pay-as-you-go deals. Other vendors that employ the pay-as-you-go model, such as Mongo and even Snowflake, to some extent, who had been getting a ton of traction in the market, have either seen or they anticipate dramatic slowdowns. We haven’t seen anything like that in your results at all and certainly not in your guidance. But can you talk about your exposure to such deals and how they’re progressing?
