AUSTIN, Texas — Oracle said it does not expect to issue additional debt during the remainder of calendar year 2026, according to the company’s fiscal 2026 earnings release issued this week, as the software and cloud-computing company outlined its funding plans for a major expansion of artificial intelligence infrastructure.
The announcement came alongside Oracle’s fourth-quarter and full-year fiscal 2026 results released on June 10. The company said it expects to raise about $40 billion in fiscal 2027 through a combination of debt and equity financing, including a previously announced at-the-market equity issuance program valued at about $20 billion. Oracle stated that it “does not expect to issue additional debt in calendar year 2026.”
The company’s financing plans have drawn attention from investors as Oracle accelerates spending on data centers and cloud infrastructure to meet demand for AI-related services. Oracle reported that it raised approximately $43 billion in debt financing and about $5 billion in equity financing during fiscal 2026 to support expansion of its cloud business.
In its earnings statement, Oracle said customer prepayments and customer-supplied hardware associated with large AI contracts had reduced the amount of capital the company would need to raise for future data-center construction. The company reported that these arrangements totaled about $75 billion.
Oracle Chief Executive Officer Safra Catz said in the earnings release that demand for cloud and AI services continued to support the company’s growth outlook. The company maintained its revenue target of approximately $90 billion for fiscal 2027 and increased its forecast for non-GAAP earnings per share.
The financing update follows Oracle’s announcement earlier this year that it planned to raise between roughly $45 billion and $50 billion through debt and equity markets to expand cloud infrastructure capacity for major customers, including AI-related clients. At that time, the company said it intended to complete a single bond issuance early in 2026 and did not anticipate further bond sales during the year.
Some investors have expressed concern about the scale of Oracle’s capital expenditures and financing needs as it seeks to compete with larger cloud providers. Reuters reported this week that Oracle’s projected spending on AI infrastructure exceeded many analyst expectations, contributing to scrutiny of the company’s funding strategy.
As of Friday, Oracle’s latest public guidance indicated that any additional financing in fiscal 2027 would be raised through a combination of debt and equity, while no new debt issuance was expected during the remainder of calendar year 2026.
