This is not a discussion of Google Cloud vs Oracle Cloud, because Google has been running their Oracle ERP in GCP and the new SAP is also in GCP.
This is a discussion of SAP winning big Oracle ERP customers.
To put this in perspective, Alphabet/Google is the 5th largest company in the world. That's not an insignificant customer loss.
https://www.zdnet.com/article/google-migrates-from-oracle-financial-software-to-sap/