Oracle is looking to raise $15 billion in corporate bond sales, Bloomberg News reported today, citing people familiar with the matter, as the company looks to invest heavily in building out cloud infrastructure to cater to burgeoning AI demand.
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 today.
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.
Earlier this week fears emerged about possible job cuts at the Irish operations of Oracle.
The Department of Enterprise said it has received a collective redundancy notification from the firm.
Such notifications are required in cases of 30 of more proposed redundancies
