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.

下午好。我叫艾瑪，今天我將擔任你們的會議接線員。此時，我想歡迎大家參加甲骨文公司 2023 年第三季度財報電話會議。 （操作員說明）謝謝。投資者關係高級副總裁 Ken Bond，您可以開始您的會議了。

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.

謝謝你，艾瑪。大家下午好，歡迎參加 Oracle 2023 財年第三季度收益電話會議。可以從我們的投資者關係網站查看和下載新聞稿和財務表格的副本，其中包括 GAAP 與非 GAAP 對賬和其他補充財務信息。此外，投資者關係網站上將提供最近購買 Oracle 雲服務或在 Oracle 雲上線的許多客戶的列表。今天參加電話會議的有董事長兼首席技術官拉里·埃里森 (Larry Ellison)；兼首席執行官 Safra Catz。

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，今天的討論將包括前瞻性陳述，包括預測、預期、估計或其他可能被視為前瞻性的信息。在今天的討論中，我們將介紹一些與我們的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。這些前瞻性陳述還受到風險和不確定性的影響，這些風險和不確定性可能導致實際結果與今天所做的陳述存在重大差異。因此，我們告誡您不要過分依賴這些前瞻性陳述，我們鼓勵您查看我們最近的報告，包括我們的 10-K 和 10-Q 以及任何適用的修訂，以完整討論這些因素和可能影響我們未來業績或我們股票市場價格的其他風險。最後，我們沒有義務根據新信息或未來事件修改我們的結果或這些前瞻性陳述。

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

在回答問題之前，我們將從一些準備好的評論開始。有了這個，我想把電話轉給 Safra。

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，肯，大家下午好。第三季度代表了另一個偉大的季度，在頂線和底線都有持續的勢頭。但在談及這些數字之前，我想與大家分享一些想法，以解釋我們持續取得財務成功的原因。首先，我們的雲產品可提高運營效率。事實上，我們的一位競爭對手最近創造了這個詞，即 Oracle 劇本，我非常喜歡這個詞，因為 Oracle 劇本就是要花更少的錢做更多的事情。

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，我們在 20 多年前自己開始了這項工作，並在這些年裡一直保持下去，從而在軟件業務中創造了數十年來最高的利潤率。使用我們自己的產品和服務使我們能夠增加投資以實現增長，同時提高盈利能力，包括通過收購以及在我們遷移到雲的過程中。我們一直在與客戶討論如何利用 Oracle 技術加快他們的上市速度並降低成本，同時改善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.

甲骨文在雲市場獨樹一幟的基礎設施和應用的結合，增加了業務轉型的力度。云不再只是租用商品白盒。這是關於速度和價值的。我們已成為首選的企業技術供應商，因為我們的產品和服務可以幫助我們的客戶提高成本效率並實現業務現代化。

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，雖然 AI 一直在最近的新聞周期中佔據主導地位，但事實是，我們的 Fusion 和 Infrastructure 客戶已經將 AI 作為其業務不可或缺的一部分使用了一段時間。帶有嵌入式 AI 的 Oracle Fusion 使客戶能夠在幾天而不是幾週內結賬。 Oracle AI 提供更多相關的銷售線索。 Oracle AI 無需人工干預即可提高基礎架構性能和安全性。使用 OCI 的客戶將人工智能作為一種服務來幫助推動他們自己的業務轉型。

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.

鑑於我們的規模和跨行業和技術的信息優勢，我們不斷訓練我們的應用程序為我們的客戶做更多的事情，無論是進一步自動化流程，提供關鍵和及時的建議，提供洞察力 - 抱歉 - 和 - 或標記潛力問題。這才是真正的企業人工智能。這就是客戶正在尋找的東西。它被設計到我們所做的每一件事中，這就是我們的客戶在使用我們的平台時得到的。在我們的 Gen2 OCI 平台上，架構和獨特的網絡功能已迅速成為許多 AI 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。所以來找我們可以為我們的客戶省錢。

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，客戶正在利用 Oracle 的綜合技術以全新且強大的方式來加速他們的業務發展。優步的勝利是值得注意的，因為我們有另一個行業轉型公司的例子得出結論，甲骨文的雲、性能和安全性超過了我們的競爭對手，而且價格點代表了可持續的長期合作夥伴關係。 Uber 將更多地使用我們的技術來推動其自身業務的價值。在接下來的幾個季度裡，你會看到越來越多的此類戰略勝利。

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，在我轉向數字之前，希望沒有人錯過這個事實，即我們將在本季度結束後 9 天宣布我們的收益，我們希望立即提交 Q。我們繼續設定運營效率標準，這有助於客戶了解與我們合作時的可能性。

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。現在到第三季度的結果。一如既往，我將使用恆定的貨幣增長率來討論它們。為了提供有機和其他方面的全貌，我將回顧包括 Cerner 在內的收入結果，然後再回顧一些不包括 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.

云總收入，即 SaaS 加上 IaaS，包括 Cerner，為 41 億美元，按固定匯率計算增長 48%，其中 IaaS 收入為 12 億美元，增長 57%，SaaS 收入為 29 億美元，增長 44%。現在不包括 Cerner，按固定匯率計算，云總收入增長了 28%，達到 35 億美元。本季度包括 Cerner 在內的雲服務和許可支持總收入為 89 億美元，按固定匯率計算增長 20%，這再次受到我們的戰略云應用程序、自主數據庫和我們的 Gen2 OCI 的推動。

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%.

包括支持在內的應用程序訂閱收入為 42 億美元，按固定匯率計算增長 33%。包括支持在內的基礎設施訂閱收入為 48 億美元，按固定匯率計算增長 10%。包括支持但不包括 Cerner 在內的應用程序訂閱收入為 34 億美元，按固定匯率計算增長 8%。不包括 Cerner 在內的 SaaS 雲收入為 23 億美元，增長了 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%.

我們的戰略後台 SaaS 應用程序現在的年收入為 62 億美元，按固定匯率計算增長 25%，其中 Fusion ERP 再次增長 28%，NetSuite ERP 本季度增長 26%。如前所述，基礎設施雲服務收入按固定匯率計算增長了 57%。當你排除我們的遺留託管服務時，基礎設施雲服務收入增長了 65%，年化收入為 44 億美元，其中 OCI 消費收入增長了 86%，雲和客戶消費收入增長了 73%，以及自治數據庫, 上漲 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.

包括數據庫支持在內的數據庫訂閱收入按固定匯率計算增長了 3%，其中云數據庫服務增長了 40%。數據庫訂閱收入主要由本地數據庫支持組成，但隨著這些數據庫從本地遷移到雲以及雲和客戶，我們預計這些雲數據庫服務將與後台 SaaS 一起成為收入增長的第三站和 Gen2 OCI 雲服務。包括 Cerner 在內的軟件許可收入為 13 億美元，按固定匯率計算增長 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.

因此，本季度總收入為 124 億美元，按固定匯率計算增長 21%。不包括 Cerner 的 15 億美元貢獻，有機收入按固定匯率計算增長了 7%。提醒一下，我們不再在俄羅斯開展業務，導致有機收入增長受到去年增長 1% 的負面影響。

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%.

轉移到利潤率。由於支持和雲之間的組合，雲服務和許可支持的毛利率為 79%。去年，甲骨文許可支持收入的毛利率在 90 年代中期，約占云服務和許可支持收入的 63%。現在因為我們的雲服務增長如此之快，它已經下降到 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，我會注意到 IaaS 毛利率比去年大幅提高，我預計 IaaS 毛利率將繼續提高。在我們繼續建設數據中心容量的同時，我們也看到隨著這些新的雲區域被填滿，我們的利潤率也在上升。最重要的是，雲服務和許可支持的毛利潤與 Cerner 一起增長了 13%，不包括 Cerner 則增長了 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 GAAP 營業收入為 52 億美元，比去年增長 11%。由於我們在本季度繼續整合 Cerner，包括 Cerner 在內的營業利潤率為 42%。隨著我們將 Cerner 的盈利能力提高到 Oracle 標準並繼續受益於雲中的規模經濟，我們不僅會繼續增加營業收入，而且還會增加營業利潤率。

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，雖然我們只擁有 Cerner 三個季度，但與收購前相比，我們已經將其營業利潤率提高了 5 個百分點以上。順便說一句，我實際上預計今年，2023 財年，我們將在另一個季度結束，隨著我們提高利潤率的舉措發揮作用，這將是營業利潤率和百分比的低谷年。

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.

本季度非美國通用會計準則稅率為 18.4%，非美國通用會計準則每股收益為 1.22 美元，按美元計算增長 8%，按固定匯率計算增長 13%。按美元計，GAAP 每股收益為 0.68 美元。季度末，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，按固定匯率計算增長 14%。過去 4 個季度，運營現金流為 155 億美元，自由現金流為 73 億美元，資本支出為 82 億美元。本季度的運營現金流增長了 11%，達到 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.

由於強勁的雲預訂和 Cerner，剩餘的履約義務或 RPO 餘額為 623 億美元，按固定匯率計算增長 66%，Larry 稍後將討論這一點。我還會注意到，按固定匯率計算，有機 RPO 增長率為 26%。預計在未來 12 個月內，大約 48% 的 RPO 總額將被確認為收入。

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.

本季度資本支出為 26 億美元，因為我們繼續為現有預訂和客戶不斷增長的需求建設能力。鑑於您在 RPO 中看到的需求以及我們在管道中看到的需求，我預計在可預見的未來，我們的資本支出投資將與現在的水平保持一致。一如既往，我們仍然謹慎地根據預訂趨勢適當調整投資節奏。

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.

我們現在在全球擁有 41 個公共雲區域，另外 8 個正在建設中。此外，其中 12 個公共雲區域與 Azure 互連，為客戶提供真正的多雲功能。我們有許多雲客戶實施、10 個專用區域和另外 9 個國家安全區域，並且對更多的需求不斷增加。正如我們之前所說，我們致力於通過技術創新、戰略收購、股票回購、謹慎使用債務和派息來為股東回報價值。本季度，我們以總計 1.5 億美元的價格回購了 180 萬股股票。此外，我們在本季度支付了 8.63 億美元的股息。董事會將季度股息從每股 0.32 美元增加 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.

我們的財務戰略仍然專注於增加非 GAAP 營業收入和稅前收入，同時大幅提高雲收入增長。鑑於客戶對我們的雲技術越來越感興趣，我們將繼續謹慎投資以滿足這一需求。

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，因為現在我們要談論第四季度，去年第四季度，我們的收入增長率達到了驚人的兩位數，軟件許可的貨幣持續增長 25% 突顯了這一點。隨著我們繼續向雲遷移，我們預計我們將繼續贏得訂閱驅動而非許可驅動的大交易。這些大的訂閱勝利增加了積壓，並且隨著時間的推移而不是預先得到認可。這正是我們希望看到的，因為我們的雲業務繼續保持出色的增長。

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.

所以現在讓我轉向我對第四季度的指導，我將在非公認會計原則的基礎上提供。現在假設貨幣匯率與現在保持不變，貨幣將對第四季度的總收入產生 2% 的負面影響，並對每股收益產生至少 3% 的負面影響。但正如我每個季度所說，到季度末，實際的貨幣影響可能會大不相同。

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。開始了。第四季度的總收入，包括 Cerner，按固定匯率計算預計將從 17% 增長到 19%，因此按美元計算預計增長 15% 到 17%。包括 Cerner 在內的總雲增長預計將從固定匯率的 51% 增長到 53%，以美元計算將從 49% 增長到 51%。我預計第四季度的總雲增長（不包括 Cerner）按固定匯率計算將超過 30%。我預計營業利潤將增長兩位數。

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 GAAP 稅率指導通常為 20.5%。然而，我們過去兩年和第四季度的平均稅率在 11% 左右，我預計在第四季度，最有可能的結果是非 GAAP 稅率約為 14.5%。我們已經使用這個比率來確定我們對第四季度的 EPS 指導。現在請注意，我認為這是將其與去年的 11% 或 10.5% 進行比較。無論如何，與過去幾個季度一樣，第四季度的實際稅率可能更高或更低，並影響我們的實際每股收益。因此，非 GAAP 每股收益預計將增長 3% 至 5%，按固定匯率計算將增長 1.59 美元至 1.63 美元。非 GAAP 每股收益預計將增長 1% 至 3%，以美元計算在 1.56 美元至 1.60 美元之間。我這裡有什麼？無論如何，正如我之前所說， Cerner 今年將增加收益，包括第四季度。

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

有了這個，我會把它交給拉里徵求他的意見。

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，薩夫拉。自去年 6 月我們收購 Cerner 以來，該公司的醫療保健合同基數增加了約 50 億美元。我們已經簽署了一系列新的和不斷擴大的國內和國際客戶，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、加拿大的多個省份、澳大利亞國防軍、波多黎各和中東多個國家的多家醫院。

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，但我們預計新醫療保健合同的簽署將在未來幾個季度加速。那麼，Cerner 業務已經為數百家醫院和門診診所預訂了數十億美元的千禧年臨床和電子健康記錄系統。整個 Oracle 醫療保健應用程序產品組合實際上要廣泛得多，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.

醫院也在購買 Oracle Fusion ERP 系統來管理他們的收入周期，從報銷和從保險公司到患者賬單，以及從訂購到庫存的醫療供應鏈。醫院正在購買 Fusion HCM 來管理由醫生、護士和技術人員組成的複雜的高價值員工隊伍。製藥公司正在購買 Oracle Clinical One 來管理臨床試驗。政府衛生組織、公共衛生組織正在使用匯總的 EHR 數據來監測傳染病并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回顧一下自我們收購公司以來 Cerner 的一些勝利。第一，Labcorp 和 Ascension Health 的巨大勝利，為 10 個州的 96 個獨立的醫院實驗室部署了一個單一的實驗室信息系統域。波多黎各的另一個 Auxilio Mutuo 是一個全新的電子健康記錄足跡，將部署在一家擁有 600 多張床位的學術私立醫院，用 Cerner Millennium 取代 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 EMR 整合到一個統一的域中，並增加了 4 家新醫院。 UHS 對其收入周期進行了現代化改造，遷移到 Careware Cloud (sic) [Caseware Cloud] 以及他們的醫院和門診診所。 Banner Health 為其健康業務實施了完整的收入周期管理。

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.

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 部署到美國國防部所有 OCONUS 地點。在英國，謝菲爾德教學醫院的國家衛生服務中心在謝菲爾德教學醫院的另外 3 個站點部署了全套 Cerner 應用程序。

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.

同樣在 NHS 下的亞歷山德拉公主醫院是一家擁有 430 個床位的醫院，增加了完整的 Cerner 套房。 Mubadala Health 是第一個從 Cerner 數據中心直接遷移到 OCI 雲的 Cerner Millennium 客戶。當我們將 Cerner 患者從 Cerner 數據中心轉移到 Oracle OCI 雲時，我們希望獲得更好的安全性、更好的可靠性、更好的性能，並顯著降低我們提供該雲服務的成本。 OCI 只是比我們收購的 Cerner 數據中心高效得多。

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 足跡和 Cerner 足跡部署到阿聯酋的 4 家謝赫哈利法醫院。可容納 1,200 張床位，為 140 萬公民提供服務，同樣是在阿聯酋。澳大利亞國防部，我們提供了急救能力，並為所有澳大利亞國防醫院和野戰醫院部署了一個環境。

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，從新斯科舍省開始，我們在全省為新斯科舍省的公民部署了一個 1 名患者、1 條記錄的 EHR 系統，1 名患者，1 條記錄。如您所知，我已經討論了很長時間的事實，即患者的電子健康記錄分散在他們訪問的每個提供者中。這個問題現在在新斯科舍省得到解決，每個患者都有一個統一的患者記錄，無論他們訪問哪個提供者。他們的記錄仍然全部在1個地方。同樣在 Niagara Health，一個新的 EHR 足跡支持為加拿大的 450,000 名公民提供護理。

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。我要到此為止了。自從我們收購 Cerner 以來，這些都是 Cerner 的直接勝利。但最重要的是，我們擁有所有——所有——如果你願意的話，其餘的醫療保健套件，由 Oracle ERP、Oracle HCM、Oracle Clinical One 組成，用於臨床試驗。 Oracle ERP 用於管理採購和庫存、整個供應鍊或 HCM 的一切，用於管理其專業勞動力和醫生、護士、技術人員等極其複雜的計劃和支付。

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.

我們在這方面的業務非常強大。我們的客戶包括克利夫蘭診所，他們在他們的醫院和我們的供應鏈系統中使用我們的 ERP 系統；梅奧診所，還有用於管理員工隊伍的 ERP、供應鍊和 HCM；西奈山醫院、ERP、SCM 和 HCM； Providence St. Joseph Health、ERP、SCM、HCM，實際上還有 CX 客戶參與； Venice Health 使用 Oracle ERP、SCM、HCM 和 CX； Kaiser Permanente，一個巨大的 Oracle HCM 用戶來管理他們的勞動力；英國的 NHS、ERP 和 SCM； UnitedHealthcare、ERP 和 HCM；藍十字藍盾、ERP、HCM、HCM 和 CX； Humana、ERP 和 SCM； Highmark Health、ERP、SCM、所有 Fusion 產品或 HCM； Health Care Service Corporation，您在這裡看到了一個模式，ERP、HCM 和 CX； Independence Blue Cross、ERP 和 HCM；光明醫療，ERP。

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.

現在在上個季度，我們在 Ascension Health 購買 ERP、HCM、SCM 和 HCM 方面取得了重大勝利，其中 HCM 的主要競爭對手是 Workday。隨著我們在 HCM 產品中添加用於管理醫療保健人員的特定功能，Oracle 在醫療保健生態系統中銷售我們的 HCM 產品方面變得越來越成功。所以我們的勝率正在急劇上升。我們的銷售週期正在縮短。

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.

聖安東尼奧的德克薩斯大學健康中心是 HCM 的一大勝利。 Labcorp 收購了 ERP 和 HCM，而 ERP 的競爭對手是 SAP。而且——我們贏得了 BlueRock Therapeutics，他們在那裡購買了 ERP、SCM 和 Fusion Analytic Warehouse。同樣，那裡的競爭對手是 SAP。順便說一句，這是拜耳公司的全資子公司。所以很高興在一家德國公司，一家德國公司，ICU 中戰勝 SAP。 ICU Medical 擴展了他們的 HCM，用於血管治療和腫瘤學。 Dexcom、ERP、EPM、SCM。 Sitel、ERP、EPM、SCM，勝過 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.

我們在本季度進行了一些大規模的上線。 Providence Health 是 SCM 的一個大客戶，已推廣到另外 12 個部委。英國的國家醫療保健供應——擁有所有的信任——所有信任的醫院現在都使用 ERP。 Baptist Healthcare 現在有 10,000 名員工依靠 HCM 生活。德克薩斯兒童醫院有 21,000 名員工依靠 HCM 生活。 Kelsey-Seybold 診所現在完全位於 HCM。我可以繼續下去，但我不會那樣做，而是要把它翻過來——回到 Safra。

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

謝謝你，拉里。艾瑪，如果可以的話請聽眾提問。

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

（操作員說明）您今天的第一個問題來自 Mark Moerdler 與 Bernstein 的對話。

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.

祝賀這個非常好的季度。在過去幾個季度，尤其是本季度，我們看到許多 IaaS、PaaS 供應商都在放緩，為什麼 OCI Gen2 表現如此出色？你在雲客戶中有[一個]，你在其他地方看到了弱點。你有企業。僅僅是低價嗎？是性能嗎？您是否正處於經濟周期中吸引新客戶的正確時間？您是否有一些關於到期信用的動態 - 正在推動這一點？差別太明顯了。我認為這真的很重要。所以你能給的顏色越多越好。

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。因此，我將首先與 NVIDIA 的 Jensen 核實一下。他和我進行了一次非常有趣的談話。 Oracle 的 Gen2 Cloud 與其他超大規模雲計算器截然不同。我們有一個 RDMA 網絡，一個非阻塞 RDMA 網絡。我們的網絡非常——比其他人的網絡快得多。這意味著如果你在一個集群中運行大量的 NVIDIA GPU，在 Oracle 解決一個大的 AI 問題，我們可以構建這些 AI 集群，這些 NVIDIA GPU 集群並運行它們。我們可以動態構建這些東西，因為我們使用——我們的標準網絡支持集群——GPU 的大型集群，並允許它們非常快速地通信。所以我們可以創建這些 GPU 組。我們可以將它們編組在一起。

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。他們可以構建集群，但實際上他們實際上是在物理上構建一個新的集群。他們正在構建新硬件。我們現有的硬件，標準網絡，允許我們將這些東西動態地組合在一起，這些 GPU 動態地組合在一起，以解決人工智能問題。沒有其他人能做到這一點。所以我們有很多業務，很多新的人工智能公司來到甲骨文，因為我們是唯一可以運行他們的工作負載的公司。順便說一句——而且我們更便宜。但是 - 所以我們更快，我們更便宜。

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.

讓我舉一個我們自己使用它的例子。我們在醫療保健方面建立了夥伴關係——回到醫療保健這件事上。我們與 MD 安德森醫院以及我們的獨立軟件供應商之一 Ronin 建立了醫療保健合作夥伴關係，我們在那裡構建了這些 AI——針對特定疾病的 AI 模塊，可以向醫生提供有關護理的建議。然後他們在 MD Anderson 真正說的是，如果我們看到有這些症狀的患者，這就是我們的反應。這是一個大型 AI 模型，由 MD Anderson 與在 Oracle 雲中運行的 Ronin 合作構建。我們實際上已經表明——或者我應該說 MD Anderson 實際上已經表明，如果你使用這個系統，你可以減少 30% 的入院率和再入院率。這是一個驚人的數字。人們談論 ChatGPT 真的很酷，因為它可以幫我寫高中論文。那麼，將 MD 安德森醫院的再入院率降低 30% 怎麼樣？您決定哪個更重要。

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.

但是人工智能是很棒的東西，是的。 ChatGPT 非常酷。在這些大型語言模型中，除了生成語言之外，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真正專注於醫療保健，並正在與其他人一起努力將 AI 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能係統。但我們也在做健康、心髒病等方面的工作。我們認為 - 所以我們的平台運行 AI 非常非常好，因為我們創建了這些 GPU 集群，可以非常快速地解決大問題。我們這樣做很經濟。然後我們在此基礎上構建應用程序。我們為人工智能領域的許多初創企業提供服務。這是一個例子，說明我們在網絡和 AI 能力方面遠遠領先於其他超大規模企業。

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.

讓我指出最後一件事。 Oracle 自治數據庫沒有任何數據庫管理員。完全是自駕。 Oracle 自治數據庫是自我驅動的，因為它是被驅動的——它是一個 AI 模塊，即 DBA。我們已經用我們自己的雲中的 AI 取代了 DBA。 Oracle 自治數據庫，實際上，它在我們雲的管理部分內運行所有數據庫，跟踪我們所有的用戶、我們的賬單，所有這些東西，恢復數據集。所有這些現在都是使用 AI 和我們的自治數據庫完成的。

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.

所以我們是人工智能的巨大消費者。我們是 AI 的大供應商。 GPU 容量、集群容量是——我們在醫療保健領域構建 AI 模塊。人們來找我們。 NVIDIA 經常推薦我們作為 AI 的最佳雲，現在正是這樣做的好時機。

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

你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.

拉里，我的問題與此非常相關，但也許從一個稍微不同的角度。我想知道您是否可以深入研究您在生成 AI 方面看到的機會。我們一再聽說公司正在 OCI 上運行這些類型的模型。 NVIDIA 正在將其中一些工作負載轉移到 Oracle Cloud。另一個概念是這些 AI 模型非常需要數據，並且您擁有 Fusion 應用程序中已經包含的所有數據。我很好奇它的一部分，即生成的 AI 部分，是否是您認為對整個業務具有重要意義的增長驅動力的東西。

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 AI 處理的需求超過可用容量。所以——我們是唯一能夠動態地——順便說一下——而且我們很短缺的人。我們正在盡可能快地擴張。這真的 - 這是一個令人興奮的機會，但當需求大於供應時它具有挑戰性。但偉大的 - 與我們的不同之處在於我們的標準網絡允許我們將這些 GPU 組合在一起並讓它們解決這些問題，無論是醫學診斷問題還是生成語言問題，例如 ChatGPT。

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.

因此，我們有很多 ISV 尋求我們，因為我們擁有 - 我們不僅擁有最具成本效益的解決方案，而且我們可以非常快速地為他們提供解決方案，因為它在我們的標準網絡上運行。所以他們可以——我們可以為他們創建一個集群，他們運行他們的工作負載。當他們的工作負載完成運行時，我們可以重新分配該集群或拆分該集群並將其分配給其他用戶。其他人做不到。他們不能動態地做到這一點。

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

你的下一個問題來自 Derrick Wood 與 TD Cowen 的對話。

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.

我將表達我的祝賀，尤其是對維持非常高的 OCI 增長。 Larry，我們一直在做更多工作的一個領域是雲供應商如何幫助轉變電信市場，包括將他們的 IT 基礎設施和網絡運營遷移到公共雲，這應該會帶來更高的效率，並讓他們更有效推出新的 5G 和邊緣應用服務的平台。我知道你們在去年的分析師日談到了這一點，但我只是希望了解你們如何看待 Oracle 堆棧的電信機會，尤其是 OCI，它是你們中的一些電信運營商正在與之合作，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丰創建專用數據中心。我不確定我們已經建造了多少。但如果您願意的話，Vodafone 正在將他們的大部分業務轉移到 Oracle 雲中。再一次，我們有能力為客戶建立數據中心。這些數據中心是我們為他們運行的 OCI 數據中心，但它們專用於特定客戶的工作負載。野村——幾年前我們在日本為野村建立的第一家。他們有一個主要的，現在他們有一個備份。他們以此為基礎經營東京證券交易所，並將其出售給日本的金融服務業。但那是我們為野村證券建造的 OCI 數據中心，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.

沃達丰又是我們正在構建專用數據的另一個例子——這些是我們在那裡運行的 OCI 數據中心。在我們的數據中心群中，它們看起來像所有其他 OCI 數據中心。它們像所有其他 OCI 數據中心一樣是自動化的。因此，我們利用了這些規模經濟和經營它們的熟練勞動力。還有很多——再一次，很多是人工智能，但很多，我們仍然有人類。我們已經為沃達丰做到了。

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.

與 DISH 網絡進入電話領域的情況相同，是通過使用 OCI 的類似架構方法實現的。我可以繼續下去。但它是我們的重點行業之一。我想你會看到我們——這對我們來說將是一個巨大的增長領域。作為電信公司，我們在電信公司方面一直非常強大。現在他們開始遷移到雲端。我們看到了來自全球一些最大客戶的一些重大承諾。

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.

我們還看到金融服務公司的觀點略有不同，但如果您願意的話，他們希望將東西保存在“內部部署”的地方。但是，由於我們可以建立一個 OCI 區域並將其專用於銀行，我們正在做更多的事情，如果你願意的話，可以稱之為雲客戶，我們在那裡建立一個專門的金融服務區域。野村就是一個例子，日本的野村，但還有其他例子。我們為銀行構建這些雲。所以我的意思是，大型行業遷移到雲的方式與其他不遷移到公共雲但更喜歡擁有這些專用區域的行業略有不同。所以這只是他們在這個雲中的應用程序。我們有能力做到這一點。同樣，亞馬遜沒有，微軟沒有，谷歌沒有。

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

你的下一個問題來自古根海姆的 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?

我認為這個問題是針對 Safra 的。我們聽說過很多關於您承諾的雲計算大型交易，但您有時會談論純消費或現收現付交易。其他採用現收現付模式的供應商，例如 Mongo 甚至 Snowflake，在某種程度上已經在市場上獲得了巨大的吸引力，但他們已經看到或預計會出現大幅放緩。我們根本沒有在您的結果中看到任何類似的東西，當然在您的指導中也沒有。但你能談談你對此類交易的了解以及它們的進展情況嗎？

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.

因此，正如拉里所說，我們有許多企業客戶、電話公司、銀行、政府向我們做出承諾，作為他們遷移到雲的一部分。所以我們確實有一些現收現付的客戶，但我們的大部分收入——首先，我們的 SaaS 收入，正如你所知，你實施了一個會計系統，你明天不會少付錢。您仍然必須運行您的會計系統。

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.

因此，業務的 SaaS 方面再次全力投入。然後因為我們有這麼多重要的企業客戶，他們基本上將他們皇冠上的珠寶帶到我們的雲中，並且一直在等待我們能夠接收這些，他們希望有一個雙向承諾。他們想知道我們有能力滿足他們，並且他們希望獲得稍微好一點的價格。

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.

因此，首先，那些進入公共雲的公司，無論是意大利電信、Verizon 還是其他一些公司，他們顯然想要一個更好的價格，所以他們承諾進入，通常承諾比他們預期使用的要少，並且幾乎總是過度使用超出他們預期的。然而，其他客戶有云客戶，正如拉里提到的，或其他不同的安排，我們與電信公司或數據中心提供商結合的合金安排，這些都是承諾的。因此，我們對客戶的承諾非常堅定。

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，他們想確保我們有可用的容量供他們使用，因為他們中的許多人在完成後就擺脫了他們的數據中心。這就是他們的最終目標。他們不想來回奔波。這些不是玩具工作量。這些是他們業務的關鍵工作負載，他們想知道他們有地方放置這些工作負載。

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.

所以承諾是這些 - 其中很多 - 聽起來這些人致力於提升其數據中心的全部容量，直到他們這樣做，他們才會關閉他們的大部分 -他們正在更換的數據中心。

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。為了讓我們清楚一點，甲骨文的現收現付不到我們業務的 5%，好嗎？明白了嗎？

That's very clear.

這很清楚。

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

你今天的最後一個問題來自德意志銀行的 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，當我想到 Cerner 的強勁勢頭，將合同基礎擴大 50 億美元以及您對業務加速的期望時，您能否根據新徽標贏得率與擴展和交叉銷售來分析驅動因素？例如，您正在使用 Fusion 嗎？還有，拉里，你談到了單一病歷的想法。幾十年來人們一直在談論這個問題。 Oracle 何時可以幫助提高護理質量和挽救生命？如果 Ken 允許，我會快速跟進 Safra。

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.

好吧，我認為有兩件事。一個是我們為 DoD 和 VA 設置的系統是 1 名患者，1 條記錄。這就是它的一個模型。進入新斯科舍省的那個是一樣的。我們正在競標 NHS 的一份巨額合同。同樣，其中一些合同數額巨大。遵守合同的責任也很大。

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.

但是我們的系統——這就是我們系統的工作方式。我們建立的標準系統是 1 名患者，數據庫中有 1 條記錄。因此，如果您訪問斯坦福大學、加州大學洛杉磯分校、梅奧診所和克利夫蘭診所，即使您因各種不同的問題而去這 4 家不同的提供者，您的所有數據都將在一個數據庫中。您的所有患者數據都將集中在一個地方，在緊急情況下或只是例行就醫時可以立即訪問。我們的系統就是這樣構建的。這就是我們現在將其交付給客戶的方式。它引起了很多關注。

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，這不僅對病人好得多，而且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，而且這樣做的成本也比每家維護自己系統的醫院都要低——反而更好他們應該在雲中共享一個系統並整合他們的數據以造福於患者。

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——我們在 Ronin 的合作夥伴和我們在 MD Anderson 的合作夥伴以及其他合作夥伴正在發生的事情我可以更詳細地討論，我很高興但不是在這個電話會議上，這些疾病是否特定人工智能模塊——以及我們正在提供的遠程醫療模塊，使蒙大拿州社區醫院的患者能夠從德克薩斯州 MD 安德森醫院或紐約州 Memorial Sloan Kettering 醫生的最佳癌症專家的智慧中獲益約克或在哈佛醫學院任教的麻省總醫院醫生。

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能和遠程醫療，並對這些診斷設備進行檢測，所以在社區醫院，我們有診斷設備，麻省總醫院的哈佛教員可以查看，然後他們檢查人工智能模塊以, a, 收集更好的信息，有了這些更好的信息，擁有最好的頭腦和人工智能——真正的頭腦和人工智能處理這些信息並開處方，希望是為那個特定的病人開出最好的程序或最好的藥物，這轉化為減少再入院率，就像他們在 MD 安德森醫院所做的那樣，並最終挽救了生命。

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?

使命是如此重要。如果我能偷偷帶一個讓 Safra 跟進就好了。 Safra，今年 30% 的有機雲增長意味著第四季度的顯著加速。是什麼支持您實現這一目標的信心？

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.

好吧，請記住，正如我告訴過你的，我們已經放棄了大量的數據中心。當它們可用時，我們有客戶在等待開始使用它們。因此，我們從客戶那裡得到了相當大的消費承諾。所以他們基本上一直在等我們。我們已經 - 在所有這些不同的國家/地區開放這些數據中心並使它們可供我們的客戶使用需要一段時間。因此我們知道他們實際上非常不耐煩地使用可用的容量。我們只是有很大的動力和來自客戶的承諾以及對我們產品的熱情。這就是 - 這就是數學的運作方式。

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.

謝謝布拉德和薩夫拉。本次電話會議的電話重播將在我們的投資者關係網站上提供 24 小時。感謝您今天加入我們。有了這個，我會把電話轉回給艾瑪結束。

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。感謝您的出席。您現在可以斷開連接。