Oracle Seeks $20 Billion in Stock and Bond Sale
Oracle announced plans to raise $20 billion through a bond and stock offering to fund expensive cloud and artificial intelligence infrastructure. Shares dropped in premarket trading.
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Oracle Corp plans to raise $20 billion through debt and equity sales to fund massive artificial intelligence and cloud expansions. The capital push arrives as two regulatory filings in the United States revealed the software giant's aggressive fundraising schedule. Shares fell 3.5% in premarket trading following the announcement.
