Oracle (ORCL), recently announcing its involvement in the significant Stargate Project alongside OpenAI and SoftBank, introduced its newest AI agents geared towards manufacturers at its CloudWorld event in Austin on Thursday. These agents aim to assist supply chain workers across various tasks, spanning procurement to sustainability. AI agents are specialized bots that can perform actions on a user’s behalf, either autonomously or under supervision, across multiple applications. Tech giants like Microsoft (MSFT), Google (GOOG, GOOGL), Amazon (AMZN), and Nvidia (NVDA) are promoting AI agents as the next crucial advancement in AI development, owing to their potential to streamline tedious yet time-consuming responsibilities. “Our new AI agents for supply chain management alleviate administrative burdens by optimizing workflows and automating routine tasks, which fosters increased accuracy, efficiency, smarter decision-making, and ultimately creates a more agile and responsive supply chain, ” stated Oracle executive vice president of applications development Chris Leone. The aim of Oracle’s latest solutions, accessible via its Oracle Fusion Cloud Supply Chain and Manufacturing platform, is to assist employees with everything from conducting product inspections to delivering comprehensive instructions for shipments. The surge in AI agents reflects the tech industry’s push to leverage its substantial investments in AI technologies. Microsoft has unveiled its own AI agent creation tool as part of its Copilot Studio, while Google has introduced the Vertex AI Agent Builder. Oracle’s announcement follows a joint declaration by the company's chairman, Larry Ellison, alongside OpenAI CEO Sam Altman and SoftBank CEO Masayoshi Son regarding their collaborative Stargate Project, which aims to invest up to $500 billion in constructing AI data centers across the U. S. The first of these data centers is currently being built in Texas. Although Oracle’s cloud service market share lags behind that of Amazon, Microsoft, and Google, the company is benefiting from the same AI momentum as its larger rivals.

In Q2, Oracle reported earnings that slightly missed analysts’ expectations, leading to a drop in shares post-announcement. Nonetheless, the quarter saw cloud infrastructure revenue surge by 52% to $2. 4 billion, while revenue from cloud applications increased by 10% to $3. 5 billion. Over the past year, Oracle’s shares have experienced a notable rise, climbing 41%, significantly outpacing Microsoft’s 7% growth and Google’s 27% increase. However, Amazon outperformed Oracle, boasting a 47% rise in the same period.