Oracle is reportedly looking to raise funds just weeks after the company inked a historic AI infrastructure deal with OpenAI. According to reporting from Bloomberg, the cloud infrastructure giant is seeking to raise 15 billion dollars through corporate bond sales. The sale could include up to seven different parts, with the potential for one part to be an uncommon 40-year bond.
This report comes shortly after Oracle reportedly signed a sizable deal with OpenAI to supply the AI research lab with 300 billion dollars worth of computing power. Questions about how either side would pay for such a deal arose quickly after the announcement.
The company is also reportedly in talks with Meta about a 20 billion dollar computing deal. This fundraising news follows a significant leadership change at Oracle. The company announced that Safra Catz is transitioning from her role as CEO to become the executive vice chair of Oracle’s board of directors after eleven years leading the company. She will be replaced by co-CEOs Clay Magouyrk and Mike Sicilia.