Oracle looks to raise $15 billion in bond sales, Bloomberg News reports
Oracle is planning to raise $15 billion through corporate bond sales to invest in cloud infrastructure, driven by increasing AI demand. The company, which has seen its shares drop nearly 2%, is expected to use the proceeds for general corporate purposes, including stock repurchases, debt repayment, and acquisitions. The bond sales will be structured in up to seven parts, although specific sizes have not been disclosed.
Sept 24 (Reuters) - Oracle (ORCL.N) is looking to raise $15 billion in corporate bond sales, Bloomberg News reported on Wednesday, citing people familiar with the matter, as the company looks to invest heavily in building out cloud infrastructure to cater to burgeoning AI demand.
Oracle, whose shares slipped nearly 2% on the news, did not immediately respond to a Reuters request for comment.
The development comes as Oracle ramps up spending to deliver cloud infrastructure contracts with the likes of OpenAI, deals that are expected to significantly lift its capital expenditures.
The cloud infrastructure and software maker is selling debt in as many as seven parts, but did not disclose a size in a regulatory filing on Wednesday.
Proceeds from the bond sales could be used for general corporate purposes, which may include stock repurchases, repayment of debt and acquisitions, the company said.
