Oracle’s main problem is that AI is about to become very cheap.
A year ago, anything but a frontier model was absolutely stupid and barely usable. But now they are OK-ish, and in a year they will be actually very good. Why, then, pay an expensive "frontier model tax"? It’s like, if a Ford can get you to work as much as a Bugatti, why buy the Bugatti?
So Amazon Bedrock I somehow grasp (and each of the other big three is developing "cheaper chips than NVIDIA" on top). But Oracle looks weirdly expecting that people will just like that continue to pay premium pricing.