The Globe and Mail reports in its Tuesday edition that Oracle plans to raise $20-billion through bond and share sales, regulatory filings showed on Monday, as the software giant taps investors to finance its costly artificial-intelligence and cloud infrastructure build-out (all figures U.S.).
A Reuters dispatch to The Globe says shares of the company fell $11.57 Monday to close at 119.10 on the New York Stock Exchange, extending a roughly 33-per-cent decline this year through Friday.
Oracle said the proceeds would be used for general corporate purposes, including capital spending, debt repayment, acquisitions, dividends and share buybacks.
The financing underscores the scale of Oracle's AI investment as it seeks to more than triple revenue by fiscal 2030. The company said last week that capital spending would peak this fiscal year and the next, while pledging to raise no more than $20-billion in additional financing for AI through fiscal 2030.
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