AUSTIN, Texas: Oracle plans to raise US$20 billion through bond and share sales as the software company turns to investors to help finance its costly artificial intelligence and cloud infrastructure expansion.

Regulatory filings on November 2 showed the company plans to tap capital markets as it pursues a strategy to more than triple revenue by fiscal 2030.

Oracle shares fell nearly 6 percent November 2 extending a roughly 33 percent decline this year through Friday.

The company said proceeds from the fundraising would fund general corporate purposes, including capital spending, debt repayment, acquisitions, dividends and share buybacks.

The fundraising highlights the scale of Oracle's AI investment. The company said last week that capital spending would peak this fiscal year and next, while pledging to raise no more than $20 billion in additional AI financing through fiscal 2030.

Oracle also expects free cash flow to turn positive in the second half of fiscal 2028, Chief Financial Officer Hilary Maxson said last week, sending its shares up about 11 percent on Wednesday.

The company had $125.34 billion in notes payable and other borrowings as of August 31, compared with fiscal 2026 revenue of $67.36 billion.

Oracle expects revenue to exceed $225 billion and adjusted earnings to top $21 per share in fiscal 2030.

Wall Street expects the company's adjusted profit per share for fiscal 2027 to reach $8.14, according to data compiled by LSEG.

The bond offering includes six tranches maturing between 2029 and 2046: one floating-rate tranche and five fixed-rate tranches. Interest rates, prices, and the number of shares have not yet been set.

Oracle's existing 6.85 percent bonds due in 2066 fell more than 1.2 cents on the dollar, according to Tradeweb data.

Investors have been closely watching Oracle's AI spending because the company lacks the revenue scale of cloud rivals Microsoft and Amazon and has significant exposure to OpenAI, the loss-making developer of ChatGPT.