Oracle will unveil its 2nd-generation cloud infrastructure next week

Oracle said today that it will unveil the second generation of its cloud infrastructure offering at its annual OpenWorld conference in San Francisco in the coming days.

Oracle brought in $171 million in the quarter that ended on August 31, the company said in a statement. That’s up just 7 percent year over year. But cloud in general is a growth area for Oracle, and the infrastructure updates could help.

“Next week at Oracle OpenWorld, we will introduce the second generation of our Infrastructure as a Service,” Oracle cofounder, former chief executive, and current chief technology officer Larry Ellison is quoted as saying today in the statement. “Our Generation2 IaaS delivers twice the compute, twice the memory, four times the storage and ten times more I/O at a 20 percent lower price than Amazon Web Services (AWS). IaaS represents a huge new cloud opportunity for Oracle to layer on top of our rapidly growing SaaS and PaaS businesses.”

For context, AWS is the giant of the cloud infrastructure business, having generated $718 million in operating income and $2.88 billion in revenue for parent company Amazon in the second quarter of this year. Microsoft Azure and Google Cloud Platform trail AWS; IBM trails Google and Microsoft; and Oracle likely lags behind them all.

For the most recent quarter, Oracle’s cloud infrastructure had an operating cost of just $96 million. By comparison, AWS’ Q2 had operating expenses of $2.02 billion.

Oracle stock was down 1 percent in after-hours trading.