During the Oracle OpenWorld event last weekend, Oracle CEO Larry Ellison detailed some of his company's cloud computing plans. The firm is rolling out new software as a service (SaaS) applications based on its Fusion middleware, as well as a new cloud-based Exadata service. In addition, Oracle is partnering with Intel on an initiative called "Exa Your Power," which helps migrate databases from IBM Power systems to hardware that uses Intel Xeon processors.
Ellison said that Oracle's SaaS and platform as a service (PaaS) business climbed 34 percent in the first quarter. He added that the company hopes to bring in $2 billion in new SaaS and PaaS business this year.