(Reuters) -Oracle is looking to raise $ 15 billion in corporate bond sales, Bloomberg News reported on Wednesday, citing people familiar with the matter, since the company seeks to invest a lot in the construction of the cloud infrastructure to meet the demand for AI in flourishing.
Oracle, whose actions fell almost 2% in the news, did not immediately respond to a request for Reuters comments.
Development occurs when Oracle increases spending to deliver infrastructure contracts in the cloud with OpenAi tastes, agreements that are expected to significantly increase their capital expenses.
The infrastructure and cloud software manufacturer is selling debt in up to seven parts, but did not reveal a size in a regulatory presentation on Wednesday.
Bond sales income could be used for general corporate purposes, which may include shares, debt and acquisition reimbursements, the company said.
(Akash Sriram report in Bengaluru; Maju Samuel’s edition)
(Tagstotranslate) Bloomberg News (T) Bond Corporate Bond (T) Bond Sales (T) Cloud infrastructure
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