Oracle to Raise Funds for Cloud Expansion
Oracle to Raise Funds for Cloud Expansion, saying it will raise $45 billion to $50 billion in 2026 to fund OCI capacity and reshape equity and bond supply.
KEY TAKEAWAYS
- Oracle will raise $45 billion to $50 billion in 2026 to expand OCI capacity following its press release.
- Financing split is roughly half equity-linked securities and an at-the-market program up to $20 billion.
- Oracle cited an OCI backlog of $455 billion underscoring contracted demand from major customers.
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Oracle said in a press release on Feb. 1, 2026, that it will raise $45 billion to $50 billion in calendar-year 2026 through balanced debt and equity financings to expand Oracle Cloud Infrastructure (OCI) capacity and meet contracted demand from major customers.
2026 Fundraising Program and Financing Mix
The company plans to raise the funds to build additional OCI capacity for contracted customers, including AMD, Meta, NVIDIA, OpenAI, TikTok, and xAI. Oracle described a balanced financing approach, with roughly half of the proceeds coming from equity-linked securities and common stock, including an at-the-market program with capacity up to $20 billion and mandatory convertible preferred shares. The remainder will come from bond issuance. Equity programs such as the at-the-market offering may require shelf-registration amendments.
Oracle cited an OCI backlog of $455 billion in undelivered cloud services, underscoring the demand driving the capital raise. The company completed an $18 billion bond offering in fall 2025, signaling recent investor appetite for its debt.
The company did not provide additional forward financial guidance related to the program. Market participants will monitor how Oracle sequences equity and debt issuance and executes the at-the-market sales and other equity-linked instruments as it converts contracted demand into delivered OCI capacity.
