Key facts
- Larry Ellison canceled his plan to sell up to 50 million Oracle shares.
- No Oracle stock was sold under the canceled plan.
- Ellison has no other plans to sell his Oracle stock.
- Oracle expects to raise $45 billion to $50 billion in 2026 for cloud infrastructure.
- The company plans to raise $40 billion through debt and equity financing this fiscal year.
Oracle Executive Chairman Larry Ellison has canceled his plan to sell up to 50 million shares of Oracle stock, worth approximately $7.5 billion, the company announced on Saturday. No shares were sold under the canceled plan, and Ellison has no other plans to sell his holdings, according to Oracle.
Oracle is seeking to raise significant capital to support its cloud infrastructure growth, expecting to secure between $45 billion and $50 billion in 2026 through debt and stock financing to meet demand from clients including AMD, Meta, Nvidia, OpenAI, TikTok, and xAI. For the current fiscal year, Oracle plans to raise $40 billion via debt and equity, having already completed a $20 billion stock sale in the first quarter.
In a regulatory filing on Friday, Oracle disclosed that restructuring costs, part of a plan that includes job cuts, are expected to increase by approximately $700 million. Oracle's shares initially rose as much as 7.8% on Friday following a $26 billion increase in its revenue backlog, but reversed course to close down about 2%.