Oracle seeks to raise 15 billion dollars through the issuance of corporate bonds, Bloomberg News reported Wednesday, citing familiar sources with the matter. The company plans to invest significantly in the construction of cloud infrastructure to meet the growing demand for artificial intelligence.
Oracle’s actions fell almost 2% after the news was known.
This movement occurs in the context of an increase in Oracle’s expenditure to offer cloud infrastructure contracts with companies such as OpenAI, agreements that are expected to significantly increase their capital expenses.
The software manufacturer and cloud infrastructure provider plans to sell debt in up to seven sections, although it did not specify the exact amount in a regulatory presentation on Wednesday.
Income from bond sale could be used for general corporate purposes, which include shares, debt and acquisitions payment, the company said.
With Reuters information
Continue reading: Oracle names Clay Magouyrk and Mike Sicily as co-ceos in a surprise movement
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