For several years now Oracle and its chief executive Larry Ellison have had a bit of a love-hate relationship with cloud computing. On the one hand, Ellison has been a vocal critic of the hype surrounding cloud computing, saying as recently as a year ago that much of it was “nonsense.”

On the flip side, Oracle has also vowed it would compete aggressively with competitors like Salesforce.com, and eventually dominate the on-demand enterprise application market.

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