甲骨文 (ORCL) 2023 Q3 法說會逐字稿

Good afternoon. My name is Emma, and I will be your conference operator today. At this time, I would like to welcome everyone to the Oracle Corporation's Third Quarter 2023 Earnings Call. (Operator Instructions) Thank you. Ken Bond, Senior VP of Investor Relations, you may begin your conference.

午安.我叫 Emma，今天將擔任你們的會議主持人。現在，我歡迎大家參加甲骨文公司 2023 年第三季財報電話會議。 （主持人指示）謝謝。投資者關係高級副總裁 Ken Bond，請開始您的會議。

Thank you, Emma. Good afternoon, everyone, and welcome to Oracle's Third Quarter Fiscal Year 2023 Earnings Conference Call. A copy of the press release and financial tables, which includes a GAAP to non-GAAP reconciliation and other supplemental financial information, can be viewed and downloaded from our Investor Relations website. Additionally, a list of many customers who purchased Oracle Cloud Services or went live on Oracle Cloud recently will be available from the Investor Relations website. On the call today are Chairman and Chief Technology Officer, Larry Ellison; and CEO, Safra Catz.

謝謝，艾瑪。大家下午好，歡迎參加甲骨文2023財年第三季財報電話會議。新聞稿和財務報表（包括GAAP與非GAAP的對帳表及其他補充財務資訊）的副本可在我們的投資者關係網站查看和下載。此外，投資人關係網站也將提供最近購買Oracle雲端服務或上線Oracle雲端的眾多客戶名單。今天參加電話會議的嘉賓包括：董事長兼首席技術官拉里·埃里森；首席執行官薩弗拉·卡茲。

As a reminder, today's discussion will include forward-looking statements, including predictions, expectations, estimates or other information that might be considered forward-looking. Throughout today's discussion, we will present some important factors relating to our business, which may potentially affect these forward-looking statements. These forward-looking statements are also subject to risks and uncertainties that may cause actual results to differ materially from statements being made today. As a result, we caution you against placing undue reliance on these forward-looking statements, and we encourage you to review our most recent reports, including our 10-K and 10-Q and any applicable amendments for a complete discussion of these factors and other risks that may affect our future results or the market price of our stock. And finally, we are not obligating ourselves to revise our results or these forward-looking statements in light of new information or future events.

提醒一下，今天的討論將包含前瞻性陳述，包括預測、預期、估計或其他可能被視為前瞻性的資訊。在今天的討論中，我們將介紹一些與我們業務相關的重要因素，這些因素可能會影響這些前瞻性陳述。這些前瞻性陳述也受風險和不確定性的影響，可能導致實際結果與今天的陳述有重大差異。因此，我們提醒您不要過度依賴這些前瞻性陳述，並建議您查看我們最新的報告，包括我們的10-K和10-Q報表以及任何適用的修訂，以全面了解這些因素以及其他可能影響我們未來業績或股票市場價格的風險。最後，我們沒有義務根據新資訊或未來事件修改我們的業績或這些前瞻性陳述。

Before taking questions, we'll begin with a few prepared remarks. And with that, I'd like to turn the call over to Safra.

在回答提問之前，我們先來準備幾句話。接下來，我想把發言權交給薩弗拉。

Thanks, Ken, and good afternoon, everyone. Q3 represented another great quarter with continued momentum on the top and bottom line. But before I get to the numbers, I want to share with you a few thoughts that explain what's behind our continued financial success. First, our cloud offerings drive operational efficiency. In fact, one of our competitors recently coined the term, the Oracle playbook, which I absolutely love, because the Oracle playbook is all about doing more while spending less.

謝謝，Ken，大家下午好。第三季再次取得了輝煌的成績，營收和利潤均保持強勁成長勢頭。但在介紹具體數字之前，我想先分享一些想法，它們解釋了我們持續保持財務成功的原因。首先，我們的雲端產品能夠提升營運效率。事實上，我們的一個競爭對手最近創造了「甲骨文策略」（Oracle playbook）這個詞，我非常喜歡，因為甲骨文策略的核心在於用更少的投入做更多的事情。

As you all know, we started this ourselves over 20 years ago and have kept it up over all these years, resulting in the highest margins in the software business for decades. Using our own products and services enables us to increase our investments for growth while also growing profitability, including through acquisitions as well as during our move to the cloud. We are constantly talking with our customers about leveraging Oracle technology to accelerate their speed to market and reduce cost, all the while improving the experience they deliver to their customers.

眾所周知，我們20多年前就開啟了這項事業，並多年來始終堅持不懈，數十年來一直保持著軟體產業的最高利潤率。使用我們自己的產品和服務，使我們能夠增加投資以促進成長，同時提升獲利能力，包括透過收購以及向雲端遷移。我們不斷與客戶溝通，探討如何運用Oracle技術來加速他們的產品上市速度、降低成本，同時提升他們為客戶提供的體驗。

The combination of Oracle's infrastructure and apps, which is unique in the cloud market, increases the intensity of business transformation. Cloud is no longer about just renting commodity white boxes. It's about velocity and value. We have become the enterprise technology vendor of choice because we have products and services that help our customers drive cost efficiencies and modernize their businesses.

Oracle 基礎設施與應用的結合在雲端市場獨樹一幟，能夠增強業務轉型的力道。雲端不再只是租用商用白盒，而是關乎速度和價值。我們之所以成為首選的企業技術供應商，是因為我們擁有能夠幫助客戶提高成本效率並實現業務現代化的產品和服務。

Second, while AI has been dominating the recent news cycle, the truth is that our Fusion and Infrastructure customers have been using AI as an integral part of their business for some time. Oracle Fusion, with embedded AI, enables customers to close their books in days, not weeks. Oracle AI provides more relevant sales leads. Oracle AI increases infrastructure performance and security with no human intervention. And customers using OCI get AI as a service to help drive their own business transformation.

其次，儘管人工智慧 (AI) 佔據了近期新聞頭條，但事實上，我們的 Fusion 和基礎設施客戶早已將人工智慧作為其業務不可或缺的一部分。 Oracle Fusion 內建人工智慧 (AI)，可協助客戶在幾天內（而非幾週）完成結帳。 Oracle AI 可提供更相關的銷售線索。 Oracle AI 無需人工幹預即可提升基礎架構的效能與安全性。使用 OCI 的客戶則可獲得人工智慧即服務 (AI as a service)，以協助其自身業務轉型。

Given our scale and our information advantage across industries and technologies, we are constantly training our applications to do more for our customers, whether it's further automating processes, providing critical and timely recommendation, offering insight -- sorry -- and -- or flagging potential issues. That's real enterprise AI. It's what customers are looking for. It's designed into everything we do, and that's what our customers get when they use our platform. And on our Gen2 OCI platform, the architecture and unique network capability has fast become the platform of choice for many AI companies because OCI runs workloads faster. And time is money in the cloud. So coming to us saves our customers money.

鑑於我們的規模以及跨行業和技術領域的資訊優勢，我們不斷訓練我們的應用程序，以便為客戶提供更多服務，無論是進一步實現流程自動化、提供關鍵且及時的建議、提供洞察（抱歉，是的），還是標記潛在問題。這才是真正的企業級人工智慧，也是客戶所期待的。它融入我們所做的每一件事中，而這正是客戶使用我們的平台時所獲得的。在我們的第二代 OCI 平台上，其架構和獨特的網路功能已迅速成為眾多人工智慧公司的首選平台，因為 OCI 可以更快地運行工作負載。在雲端，時間就是金錢。因此，選擇我們可以幫助客戶節省成本。

Third, customers are putting Oracle's comprehensive set of technologies to work in new and powerful ways to accelerate their businesses. The Uber win was notable because we have yet another example of an industry-transforming company concluding that Oracle's cloud, performance and security exceeds that of our competitors and at a price point that represents a sustainable long-term partnership. Uber will use more of our technology to drive value in their own business. And you're going to see a rising list of these types of strategic wins pile up in the quarters to come.

第三，客戶正以全新且強大的方式運用 Oracle 全面的技術，加速其業務發展。 Uber 的成功案例意義非凡，因為我們又一次見證了一家行業轉型公司最終認定 Oracle 的雲端技術、效能和安全性超越競爭對手，並且其價格優勢也代表著雙方可持續的長期合作關係。 Uber 將更多地使用我們的技術來提升自身業務的價值。未來幾個季度，您將會看到更多此類策略性勝利不斷湧現。

Finally, before I move to the numbers, and hopefully, no one missed this fact, that we're announcing our earnings 9 days after the close of the quarter, and we expect to file the Q right away. We continue to set the standard in operating efficiency, which helps customers see what's possible when they're working with us.

最後，在我講數字之前，希望大家都注意到了這一點：我們將在季度結束後9天公佈業績，並預計立即提交Q報告。我們將繼續在營運效率方面樹立標桿，這有助於客戶了解與我們合作所能帶來的無限可能。

Okay. Now to the Q3 results. As always, I'll discuss them using constant currency growth rate. To provide a full picture both organically and otherwise, I'm going to go over the revenue results including Cerner and then some revenue results excluding Cerner.

好的。現在來看看第三季的業績。像往常一樣，我將使用固定匯率成長率來討論。為了提供全面的有機成長和其他方面的情況，我將介紹包含 Cerner 在內的收入結果，以及一些不包含 Cerner 的收入結果。

Total cloud revenue, that's SaaS plus IaaS, including Cerner, was $4.1 billion, up 48% in constant currency, with IaaS revenue of $1.2 billion, up 57%, and SaaS revenue of $2.9 billion, up 44%. Now excluding Cerner, total cloud revenue was up 28% in constant currency at $3.5 billion. Total cloud services and license support revenue for the quarter, including Cerner, was $8.9 billion, up 20% in constant currency, driven again by our strategic cloud applications, autonomous database and our Gen2 OCI.

包括 Cerner 在內的雲端總收入（即 SaaS 和 IaaS）為 41 億美元，以固定匯率計算成長 48%。其中 IaaS 營收為 12 億美元，成長 57%；SaaS 營收為 29 億美元，成長 44%。不包括 Cerner 在內的雲端總收入以固定匯率計算成長 28%，達到 35 億美元。本季度，包括 Cerner 在內的雲端服務和授權支援總收入為 89 億美元，以固定匯率計算成長 20%，這再次得益於我們的策略雲端應用程式、自治資料庫和第二代 OCI。

Application subscription revenues, which includes support, were $4.2 billion and up 33% in constant currency. Infrastructure subscription revenues, also including support, were $4.8 billion, up 10% in constant currency. Application subscription revenues, including support, but excluding Cerner, were $3.4 billion, up 8% in constant currency. SaaS cloud revenue, again, excluding Cerner, was $2.3 billion and was up 16%.

包括支援服務在內的應用程式訂閱收入為42億美元，以固定匯率計算成長33%。基礎設施訂閱收入（也包括支援服務）為48億美元，以固定匯率計算成長10%。應用程式訂閱收入（包括支援服務，但不包括Cerner）為34億美元，以固定匯率計算成長8%。 SaaS雲端營收（同樣不包括Cerner）為23億美元，成長16%。

Our strategic back-office SaaS applications now have an annualized revenue of $6.2 billion and grew 25% in constant currency, including Fusion ERP, up again 28%, and NetSuite ERP, up 26% this quarter. As mentioned already, infrastructure cloud services revenue was up 57% in constant currency. And when you exclude our legacy hosting services, the infrastructure cloud services revenue grew 65%, with an annualized revenue of $4.4 billion, including OCI consumption revenue, which was up 86%, cloud and customer consumption revenue, up 73%, and autonomous database, up 50%.

我們策略性的後台SaaS應用程式目前的年化營收為62億美元，以固定匯率計算成長了25%，其中包括Fusion ERP（再次成長了28%）和NetSuite ERP（本季成長了26%）。如前所述，基礎設施雲端服務收入以固定匯率計算成長了57%。如果不計入我們傳統的託管服務，基礎設施雲端服務收入成長了65%，年化收入為44億美元，其中包括OCI消費收入（成長了86%）、雲端和客戶消費收入（成長了73%）以及自治資料庫（成長了50%）。

Database subscription revenues, which include database support, were up 3% in constant currency, highlighted by cloud database services, which were up 40%. Database subscription revenue is largely made up of on-premise database support, but as these databases migrate from on-premise to the cloud and cloud and customer, we expect these cloud database services will be the third leg of revenue growth alongside back-office SaaS and Gen2 OCI cloud services. Software license revenue, including Cerner, were $1.3 billion, up 4% in constant currency.

資料庫訂閱收入（包括資料庫支援）以固定匯率計算成長了3%，其中雲端資料庫服務收入成長了40%。資料庫訂閱收入主要來自本地資料庫支持，但隨著這些資料庫從本地遷移到雲端，再遷移到雲端和客戶，我們預計這些雲端資料庫服務將成為繼後台SaaS和第二代OCI雲端服務之後收入成長的第三支柱。包括Cerner在內的軟體授權收入為13億美元，以固定匯率計算成長了4%。

So all in, total revenues for the quarter were $12.4 billion, up 21% in constant currency. Excluding Cerner's contribution of $1.5 billion, organic revenue was up 7% in constant currency. As a reminder, we no longer operate in Russia, causing organic revenue growth to be negatively affected by 1% of growth over last year.

整體而言，本季總營收為124億美元，以固定匯率計算成長21%。扣除Cerner的15億美元貢獻，有機收入以固定匯率計算成長7%。需要提醒的是，我們已不再在俄羅斯運營，因此有機收入成長較去年同期減少了1%。

Shifting to margins. The gross margin for cloud services and license support was 79% as a result of the mix between support and cloud. Last year, Oracle license support revenue with its mid-90s gross margins represented about 63% of cloud services and license support revenue. Now because our cloud services are growing so fast, it's down to 55%.

再說說利潤率。由於支援業務和雲端業務的混合，雲端服務和許可證支援的毛利率為79%。去年，甲骨文許可證支持收入的毛利率在90%左右，約佔雲端服務和許可證支援收入的63%。現在，由於我們的雲端服務成長迅速，這一比例已降至55%。

Additionally, I would note that IaaS gross margins improved substantially from last year, and I expect IaaS gross margins will continue to improve. While we have continued to build data center capacity, we've also seen our margins go higher as these new cloud regions fill up. Most importantly, gross profit dollars of cloud services and license support grew 13% with Cerner and 6% excluding Cerner.

此外，我還要指出的是，IaaS 的毛利率較去年大幅提升，我預計 IaaS 的毛利率還會持續提升。我們持續提升資料中心容量的同時，隨著這些新雲端區域的容量不斷增加，我們的利潤率也隨之上升。最重要的是，包含 Cerner 的雲端服務和授權支援業務的毛利成長了 13%，不包含 Cerner 的毛利成長了 6%。

Non-GAAP operating income was $5.2 billion, up 11% from last year. The operating margin, including Cerner, was 42% as we continue to integrate Cerner in the quarter. As we drive Cerner profitability to Oracle standards and continue to benefit from economies of scale in the cloud, we will not only continue to grow operating income, but we will also grow the operating margin percentages.

非公認會計準則 (Non-GAAP) 營業利潤為 52 億美元，較去年成長 11%。由於本季我們持續整合 Cerner，包含 Cerner 在內的營業利潤率為 42%。隨著我們推動 Cerner 的獲利能力達到甲骨文標準，並繼續受益於雲端運算的規模經濟，我們不僅將繼續實現營業利潤的成長，還將提高營業利潤率。

For example, while we have only owned Cerner for 3 quarters, we have already improved its operating margin by over 5 percentage points compared to before the acquisition. And by the way, I actually expect this year, FY 2023, the one we are closing out in 1 more quarter, will be the trough year for operating margins and percentages as our margin improvement initiatives play out.

例如，雖然我們收購 Cerner 才三個季度，但我們已經將其營業利潤率較收購前提高了 5 個百分點以上。順便說一句，我實際上預計，隨著我們利潤率提升計劃的實施，今年，也就是 2023 財年（還有一個季度就要結束了）將會是營業利潤率和營業利潤率的低谷年。

The non-GAAP tax rate for the quarter was 18.4% and non-GAAP EPS was USD 1.22 in U.S. dollars, up 8% in USD, up 13% in constant currency. GAAP EPS was USD 0.68 in U.S. dollars. At quarter end, we had nearly $8.8 billion in cash and marketable securities. The short-term deferred revenue balance was $8.6 billion, up 14% in constant currency. Over the last 4 quarters, operating cash flow was $15.5 billion, and free cash flow was $7.3 billion, with capital expenditures of $8.2 billion. Operating cash flow for the quarter was up 11% at $4.3 billion.

本季非公認會計準則稅率為18.4%，非公認會計準則每股收益（以美元計算）為1.22美元，以美元計算成長8%，以固定匯率計算成長13%。公認會計準則每股收益（以美元計算）為0.68美元。截至季末，我們擁有近88億美元的現金和有價證券。短期遞延收入餘額為86億美元，以固定匯率計算成長14%。過去四個季度，營運現金流為155億美元，自由現金流為73億美元，資本支出為82億美元。本季營運現金流成長11%，達43億美元。

The remaining performance obligation, or RPO, balance is $62.3 billion, up 66% in constant currency due to strong cloud bookings as well as Cerner, which Larry will discuss in a moment. I will also note that the organic RPO growth rate was 26% in constant currency. Approximately 48% of total RPO is expected to be recognized as revenue over the next 12 months.

剩餘履約義務（RPO）餘額為623億美元，按固定匯率計算增長66%，這得益於強勁的雲端訂單以及Cerner（Larry稍後會討論）。我還想指出，以固定匯率計算，RPO的有機成長率為26%。預計未來12個月內，約48%的RPO總額將確認為收入。

CapEx this quarter was $2.6 billion as we continue to build capacity for existing bookings and our customers' growing needs. Given the demand you see reflected in the RPO as well as what we see in our pipeline, I expect that our CapEx investments will be about where it is right now for the foreseeable future. As always, we remain careful to pace our investments appropriately and in line with booking trends.

本季資本支出為26億美元，我們將持續提升產能以滿足現有訂單和客戶日益增長的需求。鑑於您在RPO中看到的需求以及我們目前在售的庫存情況，我預計在可預見的未來，我們的資本支出投資將與當前水準大致相同。與以往一樣，我們將謹慎調整投資節奏，並根據訂單趨勢進行調整。

We now have 41 public cloud regions around the world with another 8 being built. In addition, 12 of these public cloud regions interconnect with Azure, giving customers true multi-cloud capabilities. We have many cloud customer implementations, 10 dedicated regions and another 9 national security regions with increasing demand for more. As we've said before, we are committed to returning value to our shareholders through technical innovation, strategic acquisitions, stock repurchases, prudent use of debt and a dividend. This quarter, we repurchased 1.8 million shares for a total of $150 million. In addition, we paid out dividends of $863 million in the quarter. And the Board of Directors increased the quarterly dividend 25% from $0.32 to $0.40 per share.

我們目前在全球擁有 41 個公有雲區域，另有 8 個正在建設中。此外，其中 12 個公有雲區域與 Azure 互聯，為客戶提供真正的多雲功能。我們擁有眾多雲端客戶實施案例，包括 10 個專用雲端區域和 9 個國家安全雲區域，需求仍在增加。正如我們之前所說，我們致力於透過技術創新、策略性收購、股票回購、謹慎使用債務和股息來回報股東。本季度，我們回購了 180 萬股股票，總額達 1.5 億美元。此外，我們在本季派發了 8.63 億美元的股息。董事會將季度股息從每股 0.32 美元提高 25% 至 0.40 美元。

Our financial strategy remains focused on growing non-GAAP operating and pretax income while substantially increasing cloud revenue growth. And given increasing customer interest in our cloud technologies, we will continue to prudently invest to meet this demand.

我們的財務策略仍專注於提升非公認會計準則下的營業利潤和稅前利潤，同時大幅提升雲端業務收入。鑑於客戶對我們雲端技術的興趣日益濃厚，我們將繼續審慎投資，以滿足此需求。

As a reminder, because now we're going to talk about Q4, last Q4, we had a spectacular double-digit revenue growth rate, highlighted by 25% constant currency growth in software license. With our continued migration to the cloud, we expect that we will continue to win big deals that are more subscription-driven than license-driven. These big subscription wins add to the backlog and are recognized over time rather than upfront. That is exactly what we want to see as our cloud business continues to see excellent growth.

提醒一下，因為現在我們要討論第四季度，去年第四季我們的營收實現了驚人的兩位數成長，其中軟體授權的固定匯率成長率高達25%。隨著我們持續向雲端遷移，我們預計將繼續贏得更多由訂閱驅動而非許可證驅動的大單。這些大額訂閱訂單會增加訂單積壓，並且會隨著時間的推移而不是預先確認。這正是我們希望看到的，因為我們的雲端業務將繼續保持出色的成長。

So now let me turn to my guidance for Q4, which I'll provide on a non-GAAP basis. Now assuming the currency exchange rates remain the same as they are now, currency would have a 2% negative effect on total revenue and at least 3% plus negative effect on EPS in Q4. But as I say every quarter, the actual currency impact may be very different by quarter end.

現在，我來談談我對第四季的業績指引，我將以非公認會計準則 (Non-GAAP) 為基礎。假設匯率保持不變，第四季的匯率將對總收入產生 2% 的負面影響，對每股盈餘產生至少 3% 以上的負面影響。但正如我每季都會說的那樣，實際的匯率影響到季末可能會大不相同。

Okay. Here we go. Total revenues for Q4, including Cerner, are expected to grow from 17% to 19% in constant currency and thus are expected to grow 15% to 17% in USD. Total cloud growth, including Cerner, is expected to grow from 51% to 53% in constant currency, 49% to 51% in USD. I expect total cloud growth for Q4, excluding Cerner, will be above 30% in constant currency. I expect growth in operating profit to be double digit.

好的。我們開始吧。預計第四季包括Cerner在內的總營收以固定匯率計算將成長17%至19%，以美元計算則預期成長15%至17%。預計包括Cerner在內的雲端運算業務總成長以固定匯率計算將成長51%至53%，以美元計算則預期成長49%至51%。我預計第四季不包括Cerner在內的雲端運算業務總成長以固定匯率計算將超過30%。我預計營業利潤將達到兩位數成長。

As you all know, my non-GAAP tax rate guidance is typically 20.5%. However, our tax rates over the last 2 years and Q4 have averaged around 11%, and I anticipate that in Q4, the most likely outcome is a non-GAAP tax rate of around 14.5%. And we've used this rate in determining our EPS guidance for Q4. Now mind you, that's comparing it to 11% or 10.5%, I think, last year. Regardless, like past quarters, the actual tax rate for Q4 could be higher or lower and affect our actual EPS. With that, non-GAAP EPS is expected to grow between 3% and 5% and between $1.59 and $1.63 in constant currency. Non-GAAP EPS is expected to grow between 1% and 3% and be between USD 1.56 and USD 1.60 in USD. What have I got here? Anyway, as I've said before, Cerner will be accretive to earnings this year, including Q4.

眾所周知，我的非公認會計準則稅率指引通常為20.5%。然而，過去兩年以及第四季度，我們的平均稅率約為11%，我預期第四季的非公認會計準則稅率最有可能達到14.5%左右。我們已經根據這個稅率確定了第四季的每股盈餘指引。需要注意的是，這是與去年的11%或10.5%（我認為是10.5%）相比。無論如何，與過去幾季一樣，第四季的實際稅率可能會更高或更低，並影響我們的實際每股盈餘。因此，預計非公認會計準則每股收益將成長3%至5%，以固定匯率計算，每股收益介於1.59美元至1.63美元之間。預計非公認會計準則每股收益將成長1%至3%，以美元計算，每股收益介於1.56美元至1.60美元之間。我得出的結論是什麼？無論如何，正如我之前所說，Cerner 今年（包括第四季）的獲利將會增加。

And with that, I'll turn it over to Larry for his comments.

說完這些，我會把話題交給拉里來徵求他的意見。

Thank you, Safra. Since June of last year, when we acquired Cerner, that business has increased its health care contract base by approximately $5 billion. We have signed a diverse set of new and expanding domestic and international customers, including the U.S. Department of Defense, the U.S. Department of Veterans Affairs, hospital groups in a dozen U.S. states, multiple hospitals in the United Kingdom, multiple provinces in Canada, the Australian Defense Forces, multiple hospitals in Puerto Rico and multiple countries in the Middle East.

謝謝你，薩弗拉。自去年6月我們收購Cerner以來，該公司的醫療保健合約基數已增加了約50億美元。我們已簽署了一系列新的和不斷拓展的國內外客戶，包括美國國防部、美國退伍軍人事務部、美國十幾個州的醫院集團、英國的多家醫院、加拿大的多個省、澳大利亞國防軍、波多黎各的多家醫院以及中東的多個國家。

While we are pleased with this early success of the Cerner business, we expect the signing of new health care contracts to accelerate over the next few quarters. Well, the Cerner business has been booking billions of dollars in Millennium clinical and electronic health record systems for hundreds of hospitals and ambulatory clinics. The overall Oracle healthcare application portfolio is actually much broader, covering virtually the entire health care ecosystem.

雖然我們對 Cerner 業務的早期成功感到高興，但我們預計未來幾季新的醫療保健合約簽署速度將會加快。 Cerner 業務已經為數百家醫院和門診診所訂購了價值數十億美元的 Millennium 臨床和電子健康記錄系統。 Oracle 的醫療保健應用產品組合實際上更加廣泛，幾乎涵蓋了整個醫療保健生態系統。

Hospitals are also buying the Oracle Fusion ERP system to manage their revenue cycle and from reimbursements and from insurance companies to patient billing, plus their medical supply chain from ordering to inventory. Hospitals are buying Fusion HCM to manage their complex high-value workforce of doctors, nurses and technicians. Pharmaceutical companies are buying Oracle Clinical One to manage clinical trials. Government health organizations, public health organizations are using aggregated EHR data to monitor infectious disease and respond to outbreaks quickly and efficiently.

醫院也正在購買 Oracle Fusion ERP 系統來管理其收入週期，涵蓋從報銷到保險公司、病患帳單，以及從訂購到庫存的醫療供應鏈。醫院也在購買 Fusion HCM 來管理由醫生、護士和技術人員組成的複雜高價值團隊。製藥公司正在購買 Oracle Clinical One 來管理臨床試驗。政府衛生機構和公共衛生組織正在使用匯總的 EHR 數據來​​監測傳染病，並快速有效地應對疫情。

Now I'd like to take a couple of minutes and go over a little more specifically some of the Cerner wins since we bought the company. One, a huge win at Labcorp and Ascension Health to deploy a single lab information system domain for 96 separate hospital-based labs across 10 states. Another one in Puerto Rico, Auxilio Mutuo, is an all-new electronic health record footprint to deploy in a 600-plus bed academic private hospital, replacing Altera Paragon with Cerner Millennium.

現在，我想花幾分鐘時間，更具體地介紹一下我們收購 Cerner 以來取得的一些成果。其中一項是 Labcorp 和 Ascension Health 的重大合作，他們為遍布 10 個州的 96 個獨立醫院實驗室部署了統一的實驗室資訊系統領域。另一項合作是在波多黎各的 Auxilio Mutuo，他們為一家擁有 600 多張床位的私立學術醫院部署了全新的電子健康記錄系統，用 Cerner Millennium 取代了 Altera Paragon。

Vandalia Health, formerly Charleston Area Medical Center, consolidated all their EMRs into a single unified domain and added 4 new hospitals. UHS modernized their revenue cycle, migrated to the Careware Cloud (sic) [Caseware Cloud] and for their hospitals and ambulatory clinics. Banner Health implemented a complete revenue cycle management for their health business.

Vandalia Health（前身為查爾斯頓地區醫療中心）將其所有電子病歷 (EMR) 整合至單一統一域，並新增了 4 家醫院。 UHS 對其收入週期進行了現代化改造，並將其醫院和門診診所遷移至 Careware Cloud（原文如此）[Caseware Cloud]。 Banner Health 為其醫療業務實施了完整的收入週期管理。

The VA deployed our unified electronic health record system to 19 additional sites. The Department of Defense deployed Oracle Cerner EHR to all the OCONUS locations in the Department of Defense, the U.S. Department of Defense. In the U.K., at the National Health Service, Sheffield Teaching Hospital deployed the full suite of Cerner applications across 3 additional sites in the Sheffield Teaching Hospitals.

美國退伍軍人事務部 (VA) 將我們的統一電子健康記錄系統部署到另外 19 個站點。美國國防部將 Oracle Cerner EHR 部署到其所有 OCONUS 站點。在英國，國家醫療服務體系 (NHS) 的謝菲爾德教學醫院在其另外 3 個站點部署了全套 Cerner 應用程式。

The Princess Alexandra Hospital, also in the NHS, is a 430-bed hospital that added the full Cerner suite. Mubadala Health was the first Cerner Millennium client to move from the Cerner data center directly now to the OCI cloud. As we move our Cerner patients from the Cerner data centers into the Oracle OCI cloud, we would expect to get much better security, much better reliability, much better performance and dramatically lower our cost of providing that cloud service. OCI is just much more efficient than the Cerner data centers that we acquired.

同樣隸屬於英國國家醫療服務體系 (NHS) 的亞歷山德拉公主醫院 (Princess Alexandra Hospital) 擁有 430 個床位，現已增設了全套 Cerner 套件。穆巴達拉醫療 (Mubadala Health) 是 Cerner Millennium 旗下首家從 Cerner 資料中心直接遷移至 OCI 雲端的客戶。隨著我們將 Cerner 患者從 Cerner 資料中心遷移至 Oracle OCI 雲，我們預期將獲得更好的安全性、可靠性和效能，並大幅降低提供此雲端服務的成本。 OCI 的效率遠高於我們收購的 Cerner 資料中心。

We've deployed the full EHR footprint, Cerner footprint to 4 Sheikh Khalifa Hospitals in the U.A.E. with a capacity of 1,200 beds, serving a population of 1.4 million citizens, again, in the U.A.E. The Australian Department of Defense, we delivered acute care capabilities and deployed an environment for all of the Australian Defense hospitals and field hospitals.

我們已將完整的 EHR 覆蓋範圍和 Cerner 覆蓋範圍部署到阿聯酋的 4 家謝赫哈利法醫院，這些醫院擁有 1,200 張床位，為阿聯酋的 140 萬公民提供服務。我們為澳洲國防部提供了急診護理能力，並為所有澳洲國防醫院和野戰醫院部署了環境。

In Canada, starting in Nova Scotia, we deployed a 1-patient, 1-record EHR system across the province for the citizens of Nova Scotia, 1 patient, 1 record. As you know, I've discussed a long time the fact that patient electronic health records are scattered across every provider they visit. That problem is now being solved in Nova Scotia by having a single unified patient record for every patient regardless of which provider they visit. Their records are still all in 1 place. Same thing in Niagara Health, a new EHR footprint to support delivery of care for 450,000 citizens, again, in Canada.

在加拿大，我們從新斯科細亞省開始，在全省範圍內為新斯科細亞省居民部署了一套「一人一記錄」的電子健康檔案系統。正如你們所知，我很久以前就討論過，病患的電子健康記錄分散在他們就診的每家醫療機構。現在，新斯科細亞省正在解決這個問題，為每位患者提供統一的病歷記錄，無論他們就診哪家醫療機構。他們的記錄仍然集中在一個地方。尼加拉醫療系統也是如此，一個新的電子健康檔案系統涵蓋了加拿大45萬居民，並支持他們獲得醫療服務。

Okay. I'm going to stop with that. Those are direct Cerner wins since we acquired Cerner. But on top of that, we have all of the -- all of -- if you will, the rest of the health care suite, which is made up of Oracle ERP, Oracle HCM, Oracle Clinical One for clinical trials. Oracle ERP for managing everything from procurement and inventory, the entire supply chain, or HCM for from the enormously complicated scheduling and paying of their professional workforce and doctors, nurses, technicians, et cetera.

好的。我就不多說了。這些都是我們收購 Cerner 以來直接獲得的收益。除此之外，我們還擁有其他醫療保健套件，包括 Oracle ERP、Oracle HCM 和用於臨床試驗的 Oracle Clinical One。 Oracle ERP 負責管理從採購到庫存的方方面面，涵蓋整個供應鏈；HCM 則負責管理專業員工、醫生、護士、技術人員等極其複雜的排班和薪酬。

We're very strong in this part of the business. Our customers include the Cleveland Clinic, who use our ERP system in their hospitals and our supply chain systems; the Mayo Clinic, also ERP, supply chain and HCM to manage the workforce; Mount Sinai Hospital, ERP, SCM and HCM; Providence St. Joseph Health, ERP, SCM, HCM and actually -- and CX customer engagement; at Venice Health uses Oracle ERP, SCM, HCM and CX; Kaiser Permanente, a huge Oracle HCM user to manage their workforce; the NHS in the U.K., ERP and SCM; UnitedHealthcare, ERP and HCM; Blue Cross Blue Shield, ERP, HCM, HCM and CX; Humana, ERP and SCM; Highmark Health, ERP, SCM, all Fusion products or HCM; Health Care Service Corporation, you see a pattern here, ERP, HCM and CX; Independence Blue Cross, ERP and HCM; Bright HealthCare, ERP.

我們在這一業務領域非常強大。我們的客戶包括克里夫蘭診所，他們在其醫院和供應鏈系統中使用我們的 ERP 系統；梅奧診所也使用 ERP、供應鏈和 HCM 來管理員工隊伍；西奈山醫院使用 ERP、SCM 和 HCM；普羅維登斯聖約瑟夫醫療中心使用 ERP、SCM、HCM 以及 CX 客戶參與威尼斯；來管理其員工隊伍；英國 NHS 使用 ERP 和 SCM；聯合健康保險使用 ERP 和 HCM；藍十字藍盾使用 ERP、HCM、HCM 和 CX；Humana 使用 ERP 和 SCM；Highmark Health 使用 ERP、SCM、所有 Fusion 產品或 HCM；醫療保健服務公司，您可以在這裡看到一種模式，ERP、HCM 和 ERP BRP 獨立；

Now in this past quarter, we had major wins at Ascension Health buying ERP, HCM, SCM and HCM, where the primary competitor in HCM was Workday. As we add specific features to manage the health care workforce to our HCM product, Oracle becomes more and more successful in selling our HCM products within the health care ecosystem. So our win rates are going up dramatically. Our sales cycles are going down.

在過去的一個季度，我們在Ascension Health的ERP、HCM、SCM和HCM採購方面取得了重大成功，而HCM領域的主要競爭對手是Workday。隨著我們在HCM產品中加入管理醫療團隊的特定功能，Oracle在醫療生態系統中銷售HCM產品的成功率也越來越高。因此，我們的成功率大幅提升，銷售週期也縮短了。

University of Texas Health in San Antonio was a big HCM win there. Labcorp bought ERP and HCM, where the competitor in ERP was SAP. And the -- we won BlueRock Therapeutics, where they bought ERP, SCM and Fusion Analytic Warehouse. Again, the competitor there was SAP. And this, by the way, is a wholly owned subsidiary of Bayer AG. So it was nice to win in a German company, German-owned company, ICU -- against SAP. ICU Medical expanded their HCM for vascular therapy and oncology. Dexcom, ERP, EPM, SCM. Sitel, ERP, EPM, SCM, a win over SAP.

德州大學聖安東尼奧分校醫療中心在HCM領域取得了重大勝利。 Labcorp收購了ERP和HCM，而ERP領域的競爭對手是SAP。此外，我們贏得了BlueRock Therapeutics的收購，他們收購了ERP、SCM和Fusion Analytic Warehouse。同樣，SAP也是他們的競爭對手。順便說一下，SAP是拜耳股份公司的全資子公司。所以，很高興能在德國公司ICU──一家德資公司──擊敗SAP。 ICU Medical擴展了其HCM，用於血管治療和腫瘤學。 Dexcom擁有ERP、EPM和SCM。 Sitel也擁有ERP、EPM和SCM，戰勝了SAP。

We had some huge go-lives in the quarter. Providence Health, a huge SCM customer, rolled out to 12 additional ministries. The National Healthcare in the U.K. supply -- have all the trust -- all the trust hospitals are all now live with ERP. Baptist Healthcare have now 10,000 employees live on HCM. Texas Children's Hospital, 21,000 employees live on HCM. Kelsey-Seybold Clinics are now completely live in HCM. I can go on and on, but rather than doing that, I'm just going to turn it over -- back over to Safra.

本季我們完成了一些大型專案的上線。 Providence Health 作為 SCM 的大型客戶，已將系統推廣至另外 12 個部門。英國國家醫療保健系統 (National Healthcare) 的所有信託醫院現在都已上線 ERP。浸信會醫療保健系統 (Baptist Healthcare) 的 10,000 名員工現在已在 HCM 上線。德州兒童醫院 (Texas Children's Hospital) 的 21,000 名員工現在已在 HCM 上線。 Kelsey-Seybold 診所現在已完全在 HCM 上線。我可以繼續列舉下去，但我先不展開，而是把話題轉回 Safra。

Thank you, Larry. Emma, if you could please poll the audience for questions.

謝謝你，拉里。艾瑪，請你向觀眾提問。

(Operator Instructions) Your first question today comes from the line of Mark Moerdler with Bernstein.

（操作員指示）您今天的第一個問題來自伯恩斯坦的馬克·莫德勒 (Mark Moerdler)。

Congratulations on the really good quarter. With the slowdown we're seeing across so many IaaS, PaaS vendors over the last couple of quarters and especially this quarter, why has OCI Gen2 held up so well? You have [one] in the cloud customers which you're seeing weakness elsewhere. You have enterprises. Is it simply low price? Is it performance? Is it you're at the right time in the economic cycle to be capturing new customers? Is there some dynamics around expiry credits that you're -- that are driving this? The difference is too stark. I think it's really important. So the more color you can give, the better.

恭喜您取得如此好的季度業績。過去幾個季度，尤其是本季度，我們看到許多IaaS和PaaS供應商的成長放緩，但為什麼OCI Gen2表現如此出色？您看到雲端客戶中有一個客戶在其他領域表現疲軟。您是企業客戶。只是因為價格低廉嗎？是因為性能嗎？是因為您正處於經濟週期的黃金時期，可以吸引新客戶嗎？您是否受到了一些與到期信用額度相關的因素的影響？兩者之間的差異非常明顯，我認為這非常重要。所以，您能提供的細節越多越好。

All right. I'd like to take a crack at that. So I'll start by check with Jensen over at NVIDIA. He and I had a very interesting conversation. Oracle's Gen2 Cloud is quite different than the other hyperscalers. We have an RDMA network, a nonblocking RDMA network. Our network is very -- much faster than the other guys' network. What this means is if you're running a large group of NVIDIA GPUs in a cluster, doing a large AI problem at Oracle, we can build these AI clusters, these NVIDIA GPU clusters and run them. We can build those things dynamically because we use -- our standard network supports the clustering -- the large clustering of GPUs and allows them to communicate very quickly. So we can create these groups of GPUs. We can marshal them together.

好的。我想嘗試一下。首先，我會先跟 NVIDIA 的 Jensen 確認一下。我和他進行了一次非常有趣的對話。 Oracle 的第二代雲端與其他超大規模運算平台截然不同。我們擁有一個 RDMA 網絡，一個非阻塞的 RDMA 網路。我們的網路比其他公司的網路快得多。這意味著，如果你在 Oracle 的叢集中運行大量 NVIDIA GPU，處理大型 AI 問題，我們可以建置這些 AI 叢集、這些 NVIDIA GPU 叢集並運行它們。我們可以動態建立這些東西，因為我們使用的標準網路支援集群——大型 GPU 集群，並允許它們快速通訊。因此，我們可以建立這些 GPU 組，並將它們組合在一起。

The other guys can't do that. They can build clusters, but they actually literally are physically building a new cluster. They're building new hardware. Our existing hardware, standard network, allows us to group these things together dynamically, these GPUs together dynamically, to attack AI problems. No one else can do that. So we have a lot of business, a lot of new AI companies coming to Oracle because we're the only ones that can run their workloads. And by the way -- and we are cheaper. But -- so we're faster and we're cheaper.

其他人做不到這一點。他們可以搭建集群，但實際上他們實際上正在建立一個新的集群。他們正在建立新的硬體。我們現有的硬體和標準網路使我們能夠動態地將這些東西組合在一起，將這些GPU動態地組合在一起，以解決AI問題。沒有其他人能做到這一點。因此，我們有很多業務，很多新的AI公司選擇甲骨文，因為我們是唯一能夠運作他們工作負載的公司。順便說一句，我們的成本更低。但是，我們速度更快，成本也更低。

Let me give you an example where we use it ourselves. We have a partnership in health care -- back to this health care thing. We have a partnership with health care with MD Anderson Hospital, and one of our independent software vendors called Ronin, where we built these AI -- disease-specific AI modules that make recommendations to doctors about care. And then what they really say at MD Anderson, if we see a patient with these symptoms, this is how we respond. And that's a big AI model that's built by MD Anderson working with Ronin running in the Oracle Cloud. And we've actually shown -- or I should say MD Anderson has actually shown, if you use the system, you reduce hospital admissions and readmissions by 30%. That's a stunning number. People talk about ChatGPT being really cool because it can write my high school essay for me. Well, how about reducing the hospital readmissions at MD Anderson by 30%? You decide which is more important.

讓我舉個我們自己使用它的例子。我們在醫療保健領域有合作關係—回到醫療保健這個主題。我們與MD安德森醫院以及我們的獨立軟體供應商Ronin建立了合作夥伴關係，我們在Ronin上建立了這些AI——針對特定疾病的AI模組，可以向醫生提供治療建議。然後，他們在MD安德森的實際情況是，如果我們看到有這些症狀的患者，我們會做出這樣的反應。這是一個由MD安德森與Ronin合作建構的大型AI模型，運行在Oracle雲端。事實上，我們已經證明——或者我應該說MD安德森已經證明——如果你使用這個系統，你可以將入院和再入院率降低30%。這是一個驚人的數字。人們說ChatGPT很酷，因為它可以幫我寫高中作文。那麼，將MD安德森的再入院率降低30%呢？你來決定哪個比較重要。

But AI is fabulous stuff, yes. And ChatGPT is very cool. There are other applications other than generative language in these large language models. We've really focused on health care in the last year or so since the acquisition of Cerner and are working diligently with others to apply AI to health care and especially the management of the complex diseases like cancer. This is a cancer AI system. But we're also doing wellness, heart disease, et cetera, down the road. We think -- so our platform runs AI very, very well because we create these clusters of GPUs that can attack big problems very quickly. We do it economically. Then we build the applications on top of that. We provide the service to a lot of the start-ups in the AI world. This is one example of where we're just way ahead of the other hyperscalers in terms of our network and our ability to do AI.

但人工智慧確實是個很棒的東西，沒錯。 ChatGPT 就很酷。除了生成性語言之外，這些大型語言模型還有其他應用。自從收購 Cerner 以來，我們在過去一年左右的時間裡一直專注於醫療保健領域，並正在與其他公司緊密合作，將人工智慧應用於醫療保健，尤其是癌症等複雜疾病的管理。這是一個癌症人工智慧系統。但我們未來也會涉足健康、心臟病等領域。我們認為——我們的平台能夠非常出色地運行人工智慧，因為我們創建了這些 GPU 集群，可以非常快速地解決重大問題。我們以經濟的方式做到這一點。然後，我們在此基礎上建立應用程式。我們為人工智慧領域的許多新創公司提供服務。這就是我們在網路和人工智慧能力方面遠遠領先其他超大規模供應商的一個例子。

Let me point out one last AI thing. The Oracle Autonomous Database doesn't have any database administrators. It's completely self-driving. The Oracle Autonomous Database is self-driving because it is driven -- it is an AI module that is the DBA. We've replaced the DBAs with AI inside of our own cloud. The Oracle Autonomous Database, actually, it runs all the databases inside of the administrative part of our cloud, keeps track of all of our users, our billing, all of those things, recovery data sets. All of that stuff is now done using AI and our Autonomous Database.

最後，讓我指出人工智慧的一點。 Oracle 自治資料庫不需要任何資料庫管理員。它完全是自動駕駛的。 Oracle 自治資料庫之所以能夠自動駕駛，是因為它是由一個人工智慧模組驅動的——它是一個資料庫管理員 (DBA)。我們已經在自己的​​雲端中用人工智慧取代了資料庫管理員 (DBA)。實際上，Oracle 自治資料庫運行我們雲端管理部分的所有資料庫，追蹤我們所有的使用者、帳單以及所有相關數據，包括復原資料集。所有這些工作現在都由人工智慧和我們的自治資料庫完成。

So we're a huge consumer of AI. We're a huge vendor of AI. GPU capacity, clustered capacity is -- we build AI modules in health care. And people are coming to us. NVIDIA is often recommending us as the best cloud for AI, and this is a good time to be that.

我們是人工智慧的龐大消費者，也是人工智慧的龐大供應商。 GPU 容量、叢集容量—我們在醫療保健領域建立人工智慧模組。客戶源源不絕地湧向我們。 NVIDIA 經常推薦我們是人工智慧的最佳雲端平台，現在正是這樣做的好時機。

Your next question comes from the line of Mark Murphy with JPMorgan.

您的下一個問題來自摩根大通的馬克墨菲。

Larry, my question was very much related to that, but maybe from a slightly different angle. I'm wondering if you could drill into the opportunity that you do see on the generative AI side. We're repeatedly hearing that companies are running those kinds of models on OCI. NVIDIA is moving some of those workloads to the Oracle Cloud. And the other concept being that these AI models are so data hungry and that you have all the data already contained in the Fusion applications. I am curious if that piece of it, the generative AI piece, is something that you see lining up as a growth driver that is material overall on the entire business.

Larry，我的問題與此密切相關，但角度可能略有不同。我想知道您能否深入探討您在生成式人工智慧方面看到的機會。我們不斷聽到有公司在OCI上運行這類模型。 NVIDIA正在將部分工作負載遷移到Oracle雲端。另一個概念是，這些人工智慧模型對數據的需求非常大，而Fusion應用程式中已經包含了所有數據。我很好奇，您認為生成式人工智慧是否會成為對整個業務至關重要的成長動力。

The answer is absolutely yes. There's actually more demand for AI processing than there is available capacity. So -- and we're the only ones, again, that can dynamically -- and by the way -- and we're short. We are expanding as fast as we can. It's really -- it's an exciting opportunity, but it's challenging when there's more demand than supply. But the great -- the difference with us is our standard network allows us to group together these GPUs and have them attack these problems, whether it's a medical diagnostic problem or it's a generative language problem, like a la ChatGPT.

答案是肯定的。實際上，對人工智慧處理的需求超過了可用的容量。所以——而且我們是唯一能夠動態地——順便說一句——而且我們人手短缺。我們正在盡可能快地擴張。這確實是一個令人興奮的機會，但當需求大於供應時，挑戰就更大了。但我們最大的不同之處在於，我們的標準網路使我們能夠將這些GPU組合在一起，讓它們解決這些問題，無論是醫療診斷問題，還是像ChatGPT這樣的生成語言問題。

So we have a lot of ISVs seeking us out because we have the -- not only do we have the most cost-effective solution, we can make the solution available to them very quickly because it runs on our standard network. So they can -- we can create a cluster for them, they run their workload. And the moment their workload is through running, we can reallocate that cluster or break that cluster up and allocate it to other users. The other guys can't do that. They can't do it dynamically.

許多獨立軟體供應商 (ISV) 都在尋找我們，因為我們不僅擁有最具成本效益的解決方案，還能快速地將解決方案提供給他們，因為它運行在我們的標準網路之上。因此，我們可以為他們創建一個集群，讓他們運行自己的工作負載。工作負載運行結束後，我們可以重新分配該集群，或者拆分集群，將其分配給其他用戶。其他公司做不到這一點，他們無法動態地做到這一點。

Your next question comes from the line of Derrick Wood with TD Cowen.

您的下一個問題來自 TD Cowen 的 Derrick Wood。

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.

我對此表示祝賀，尤其是在OCI保持高成長的情況下。 Larry，我們一直在努力的一個領域是雲端供應商如何幫助電信市場轉型，包括將其IT基礎設施和網路營運遷移到公有雲，這將提高效率，並為他們提供更有效的平台來推出新的5G和邊緣應用服務。我知道你們在去年的分析師日上談到了這一點，但我只是想了解一下你們如何看待Oracle堆棧，尤其是OCI帶來的電信商機，以及您與哪些電信運營商合作，以及您如何看待未來幾年的發展。

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.

是的。這對我們來說是一項令人興奮的業務。我的意思是，我們實際上正在為沃達豐創建專用資料中心。我不確定我們已經建了多少個。但如果你願意的話，沃達豐正在將其很大一部分業務遷移到甲骨文雲。而且，我們有能力為客戶建立資料中心。這些資料中心是我們為他們營運的OCI資料中心，但它們專用於特定客戶的工作負載。野村－我們幾年前在日本為野村建造了第一個資料中心。他們有一個主資料中心，現在又有一個備用資料中心。他們用這個資料中心經營東京證券交易所，並將其出售給日本的金融服務機構。但那是我們為野村建造的OCI資料中心，他們在那裡轉售這些功能。

Vodafone is again another example of someone who we're 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.

沃達豐是另一個我們正在建立專用資料——我們在那裡運行的OCI資料中心——的例子。在我們的資料中心群中，它們看起來和其他OCI資料中心一樣。它們也像其他OCI資料中心一樣實現了自動化。因此，我們利用了這些規模經濟和營運這些資料中心的熟練勞動力。而且很多——再次強調，其中很多是人工智慧，但很多我們仍然需要人工。我們已經為沃達豐做到了這一點。

Same thing with DISH Network's entry into telephony is enabled by similar architectural approach using OCI. I can go on and on. 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.

DISH Network 進軍電話領域也是透過類似的架構方法，使用 OCI 來實現的。我可以繼續說下去。但這是我們的重點產業之一。我想你們會看到我們——這將是我們一個巨大的成長領域。作為電信營運商，我們在電信領域一直非常強大。現在他們開始轉向雲端。我們看到一些全球最大客戶做出了重大承諾。

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 build 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 applications in this cloud. We have the ability to do that. Again, the Amazon does not, and Microsoft does not, and Google does not.

我們也看到金融服務公司持有略微不同的觀點，他們希望將資料保留在「本地」環境中。但由於我們可以建立一個OCI區域並將其專用於銀行，因此我們所做的更多，如果你願意，可以稱之為“雲端客戶”，即為金融服務建立一個專用區域。野村證券就是一個例子，日本的野村證券，但還有其他例子。我們為銀行建構這些雲端。所以我的意思是，大型產業遷移到雲端的方式與其他產業略有不同，它們沒有遷移到公有雲，而是更喜歡擁有這些專用區域。所以，只是他們的應用程式在雲端。我們有能力做到這一點。同樣，亞馬遜沒有，微軟沒有，Google也沒有。

Your next question comes from the line of John DiFucci with Guggenheim.

您的下一個問題來自古根漢美術館的約翰‧迪富奇 (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?

我想這個問題應該要問Safra。我們聽說了很多關於你們承諾的大型雲端交易，但你們有時也提到純消費或按需付費的交易。其他採用按需付費模式的供應商，例如Mongo，甚至某種程度上的Snowflake，它們在市場上一直很受歡迎，要么已經看到，要么預計會大幅放緩。我們在你們的業績中沒有看到類似的情況，當然在你們的指導中也沒有看到。您能談談您們對這類交易的了解以及它們的進展嗎？

So as Larry was touching on it, we have many, many enterprise customers, phone companies, banks, governments who make commitments to us as part of their move to cloud. So we do have some pay-as-you-go customers, but the bulk of our revenue -- first of all, our SaaS revenue, as you know, you implement an accounting system, you're not going to pay less tomorrow. You still have to run your accounting system.

正如拉里所提到的，我們有許多企業客戶，包括電話公司、銀行和政府，他們向我們做出承諾，作為他們遷移到雲端運算的一部分。我們確實有一些按需付費的客戶，但我們的大部分收入——首先是我們的SaaS收入，正如你所知，如果你實施了一個會計系統，你明天不會少付錢。你仍然需要運行你的會計系統。

So the SaaS side of the business, again, is fully committed. And then because we have so many important enterprise customers who are bringing basically their crown jewels into our cloud and had been waiting really for us to be in the position to receive those, they want to have a 2-way commitment. They want to know that we have the capacity for them, and they want to get a slightly better price.

所以，SaaS 業務方面，我們再次全力投入。此外，由於我們擁有眾多重要的企業客戶，他們基本上把他們的「皇冠上的寶石」都帶入了我們的雲端，並且一直在等待我們準備好接收這些資源，所以他們希望獲得雙向承諾。他們想知道我們是否有能力滿足他們的需要，並且希望獲得略微優惠的價格。

So first of all, those that go into the public cloud, whether it's Telecom Italia or Verizon or some of these others, they obviously would like a better price, so they make commitments to come in, usually committing less than they expect to use and almost always overusing more than they expected. However, other customers have cloud customers, as Larry mentioned, or other different arrangements, the Alloy arrangement where we have a combination with a telco or a data center provider, those are all committed. And so we're very strong in the commitments from our customers.

首先，那些選擇公有雲服務的公司，無論是義大利電信、Verizon 還是其他一些公司，顯然都希望獲得更優惠的價格，所以他們會做出承諾，通常承諾的用量低於預期，而且幾乎總是超出預期。然而，正如 Larry 所提到的，其他客戶有雲端客戶，或有其他不同的協議，例如我們與電信公司或資料中心供應商合作的 Alloy 協議，這些都是承諾的。因此，我們非常重視客戶的承諾。

And by the way, they want to make sure we have available capacity back for them because many of them get rid of their data centers when they're finished. And that's the ultimate goal for them. They don't want to be running back and forth. These aren't toy workloads. These are critical workloads for their business, and they want to know that they've got a place to put those.

順便說一句，他們希望確保我們為他們提供可用的容量，因為許多公司在資料中心完工後都會將其拆除。這是他們的最終目標。他們不想來回奔波。這些工作負載可不是玩具，而是對他們的業務至關重要的工作負載，他們想知道是否有地方存放它們。

So the commitment is these -- a lot of these -- it sounds like these people are committed to ramping up to the full capacity of their data center, and not until they do that do they shut down for the most part their -- the data centers they're replacing.

因此，承諾是這些——很多這些——聽起來這些人致力於提高他們的資料中心的全部容量，並且直到他們做到這一點，他們才會關閉他們正在更換的大部分資料中心。

Yes. Just so that we're clear here, pay-as-you-go at Oracle is less than 5% of our business, okay? Is that clear?

是的。為了更清楚說明，Oracle 的現收現付模式在我們業務中所佔比例不到 5%，懂嗎？

That's very clear.

這非常清楚。

Your last question today comes from the line of Brad Zelnick with Deutsche Bank.

今天的最後一個問題來自德意志銀行的布拉德‧澤爾尼克 (Brad Zelnick)。

Larry, as I think about the strong momentum in Cerner, expanding the contract base by $5 billion and your expectations for the business to accelerate, can you parse through the drivers in terms of new logo win rates versus the expansion and cross-sell you're doing with Fusion, for example? And then also, Larry, you touched on the idea of a single medical record. People have been talking about this for decades. When does it become clear that Oracle is helping improve the quality of care and saving lives? And I've got a quick follow-up for Safra if Ken will allow.

拉里，我考慮到 Cerner 的強勁發展勢頭，合約金額增加了 50 億美元，以及您對業務加速發展的預期，您能否分析一下這些驅動因素，例如新標誌的中標率，以及您與 Fusion 的擴張和交叉銷售？另外，拉里，您提到了單一醫療記錄的概念。幾十年來，人們一直在討論這個問題。甲骨文何時才能真正幫助改善醫療品質並挽救生命？如果肯允許的話，我接下來想跟進 Safra 的問題。

Well, I think there are 2 things. One is the system we're putting in for the DoD and for the VA is 1 patient, 1 record. So that's a model of it. The one going in, in Nova Scotia is the same. We are bidding on a huge contract for the NHS. Again, some of these contracts are enormous. And the responsibility to go along with the contracts is also enormous.

嗯，我認為有兩點。一是我們為國防部和退伍軍人事務部（VA）推行的系統是「1個病人，1個記錄」。所以這是一個模型。新斯科細亞省正在實施的方案也是一樣的。我們正在競標NHS的一份巨額合約。同樣，其中一些合約金額巨大。履行這些合約的責任也同樣巨大。

But our system -- that's how our system works. Our standard system that we have built is 1 patient, 1 record in the database. So if you visit Stanford and UCLA and Mayo Clinic and Cleveland Clinic, even if you go to these 4 different providers for a variety of different issues, all of your data will be in 1 database. All your patient data will be in 1 place, immediately accessible in a time of emergency or just a routine visit to the doctor. That's how our system is architected. That's how we're delivering it to customers right now. It's attracted a lot of attention.

但我們的系統就是這樣運作的。我們建構的標準系統是資料庫中每個病人對應一筆記錄。所以，如果你去史丹佛大學、加州大學洛杉磯分校、梅奧診所和克利夫蘭診所，即使你因為各種不同的問題去這四家不同的醫療機構，你的所有數據都會集中在一個資料庫中。你所有的病人資料都會集中在一個地方，無論是緊急情況下還是例行就診，都可以立即存取。這就是我們系統的架構。這也是我們現在提供給客戶的方式。它已經引起了很多關注。

Actually, it's not only much better for the patient, but it helps deliver better -- gives doctors better information, deliver better outcomes, but it's also less expensive to do it that way than every hospital maintaining their own system to -- rather it's better that they should share a system in the cloud and integrate their data for the benefit of the patient.

實際上，這不僅對患者更有利，而且還有助於提供更好的服務——為醫生提供更好的信息，提供更好的結果，而且這樣做比每家醫院維護自己的系統更便宜——更好的是，他們應該在雲端共享一個系統並整合他們的數據以造福患者。

Saving lives is exactly what it's doing -- what's happening with our partner at Ronin and our partner at MD Anderson and other partnerships I could go into in more detail, and I'm happy to but not on this call, is these disease-specific AI modules where -- and the telemedicine modules that we're delivering, allows a patient in a community hospital in Montana to get the benefits of the wisdom of the best cancer specialists at MD Anderson Hospital in Texas or a Memorial Sloan Kettering doc in New York or a Mass General doctor who's on faculty at Harvard Medical School.

拯救生命正是它正在做的事情——我可以更詳細地介紹我們與 Ronin 的合作夥伴、MD Anderson 的合作夥伴以及其他合作夥伴的合作情況，我很樂意但不是在這次電話會議上介紹，這些針對特定疾病的合作夥伴以及其他合作夥伴的合作情況，我很樂意但不是在這次電話會議上介紹，這些針對特定疾病的人工智能模組——以及我們提供的遠距醫療模組，使英國蒙大拿州社區醫院的患者能夠受益於德克薩斯州醫學博士 Anderson 醫學博士的醫學博士 MD Anderson 醫學博士的紐約州總紀念醫生或麻省州的尼隆醫學院的最佳醫生、醫學博士的紐約總教授 Anderson 醫學學院。

The fact that we're now using AI and telemedicine and instrumenting these diagnostic devices so the docs -- so in the community hospital, we have diagnostic devices that the Harvard faculty member at Mass General can look at and then they inspect the AI module to, a, gather much better information, and with that better information, have the best minds and AI -- real minds and artificial intelligence processing that information and prescribing, hopefully, the best procedure or the best medication for that particular patient, which translates into reducing readmission to the hospital as they did at MD Anderson and ultimately saving lives.

事實上，我們現在正在使用人工智慧和遠距醫療，並對這些診斷設備進行檢測，以便醫生——在社區醫院，我們擁有診斷設備，麻省總醫院的哈佛大學教員可以查看這些設備，然後他們檢查人工智能模組，以收集更好的信息，並利用更好的信息，讓最好的頭腦和人工智能——真正的頭腦和處理這些信息並開出訪問人工智能，希望是針對特定患者的 MD安德森癌症中心所做的那樣，最終挽救生命。

The mission is so important. If I could just sneak in a quick one for Safra to follow up. Safra, 30% organic cloud growth for the year implies significant acceleration in Q4. What supports your confidence in delivering that?

這個使命非常重要。我可以快速跟進Safra的情況嗎？ Safra，今年30%的有機雲端成長意味著第四季將顯著加速。是什麼支撐著你對實現這目標的信心？

Well, remember, as I told you, we have dropped a large number of data centers. And as they become available, we have customers waiting to get started and use them. So we have commitments from customers to quite an enormous amount of consumption. And so they've basically been waiting for us. We've -- it's taken a while in all these different countries to open these data centers and to make them available to our customers. And so we know they are actually very impatient to use the capacity as it becomes available. And we just have a lot of momentum and a lot of commitment from our customers and a lot of enthusiasm around our offerings. And so this is -- that's how the math works.

嗯，記住，正如我之前所說，我們已經放棄了大量的資料中心。這些資料中心一旦投入使用，就會有客戶迫不及待地開始使用。客戶承諾了相當多的用量。他們基本上一直在等待我們。我們——在所有這些不同的國家開設這些資料中心並將它們提供給客戶，都花了一些時間。我們知道，他們實際上非常急切地想要利用這些可用的容量。我們擁有強大的發展勢頭，客戶也做出了大量承諾，他們對我們的產品充滿熱情。這就是計算的原理。

Thank you, Brad and Safra. A telephonic replay of this conference call will be available for 24 hours on our Investor Relations website. Thank you for joining us today. And with that, I'll turn the call back to Emma for closing.

謝謝布拉德和薩弗拉。本次電話會議的電話回放將在我們投資者關係網站上提供24小時的回放。感謝大家今天的參與。接下來，我將把電話會議的最後環節交還給艾瑪。

Thank you. This concludes today's conference call. Thank you for attending. You may now disconnect.

謝謝。今天的電話會議到此結束。感謝您的參與。現在可以掛斷電話了。