Oracle plans $20 billion stock and bond offerings

CNBC reported that Oracle will sell $10 billion in common stock and $10 billion in senior notes.[2] Oracle’s preliminary prospectuses for the offerings were dated November 2, 2026.[1] The filings say the stock offering’s closing was not conditional on the concurrent notes offering closing.[1] That detail means the two offerings do not depend on both transactions closing together, although it does not establish whether either offering ultimately closed.[1]

Oracle said it plans to use the proceeds for general corporate purposes, which may include capital expenditures, debt repayments and future investments.[2] The company has said it is raising money to build capacity to meet contracted demand from its largest Oracle Cloud Infrastructure customers.[4] Oracle named AMD, Meta, NVIDIA, OpenAI, TikTok and xAI among those customers.[4]

Oracle expected to raise $45 billion to $50 billion in gross cash proceeds during calendar 2026.[4] It said it was limiting additional capital-market funding for its fiscal 2027-to-2030 investment cycle to $20 billion.[2] Oracle also plans to turn to vendor financing, customer-provided hardware and customer prepayments.[2] The company forecast at least $225 billion in revenue for fiscal 2030 and said it expects to reach positive free cash flow in the second half of 2028.[2]

CNBC reported that Oracle shares fell 8.8% on Monday, and that concerns about debt taken on to fund AI infrastructure had put pressure on the company’s stock and bonds.[2] CNBC reported Oracle had $125.34 billion in debt as of August 31 and that S&P downgraded the company to BBB- in July, one rating level above high yield.[2] CNBC said the fundraising plans had already been outlined at Oracle’s investor day the previous week.[2] Dynasty Financial Partners’ Pat Nerney said Oracle’s execution would ultimately matter.[2]