Oracle has become the latest of IT giants to get into the business of renting virtual compute and storage resources on demand and over the Internet.

In his statements commenting on the company’s essentially flat fiscal Q1 results, the company’s CEO Larry Ellison mentioned that its cloud services were already available, without providing any detail, leaving that until the OpenWorld conference in San Francisco later this month.

“Our new infrastructure as a service is available in the Oracle Cloud and as a private cloud in our customers’ data center, with the unique ability to move applications and services back and forth between the two,” he said. “Join us at Oracle OpenWorld for all the details.”

If you cannot join Ellison in San Francisco, watch our website, as we will be there to get those details.

By announcing an IaaS offering, Oracle is entering a market already populated with a number of heavyweights, but dominated by Amazon Web Services. While Amazon essentially created the public-cloud market, the space was recently joined by Microsoft, Google and HP.

There are also smaller players like Rackspace, CenturyLink-owned Savvis, Verizon-owned Terremark and others, providing both public and private cloud services.