Oracle in $14B Michigan Data Center Financing Talks, 710 Job Cuts
Oracle received an unsolicited mini-tender offer from TRC Capital to buy up to 1 million shares at $140.50 each, under 0.04% of stock, without endorsing the bid. It is also in talks with Pimco for a $14 billion Michigan data center debt package and has cut 710 California jobs.
1. TRC Mini-Tender Offer
Oracle has received notice of an unsolicited mini-tender offer from TRC Capital to purchase up to 1,000,000 shares at $140.50 per share, representing less than 0.04% of its outstanding common stock. Oracle remains neutral on the bid, urging shareholders to review offer terms, consult financial advisors and consider their withdrawal rights.
2. Michigan Data Center Financing Talks
Oracle is in preliminary discussions with Pacific Investment Management Co. and Bank of America to arrange roughly $14 billion in debt financing for a new Saline Township, Michigan campus dedicated to AI workloads. The financing may take the form of a 144A private placement, with Blackstone poised to contribute $2 billion in equity, underscoring strong investor interest in Oracle’s cloud and AI infrastructure expansion.
3. California Layoffs
Oracle has cut 710 positions across four California locations—318 in Redwood City, 184 in Santa Clara, 158 in Pleasanton and 50 in Santa Monica—as the first phase of workforce reductions. The move aligns with Oracle's efforts to streamline operations alongside its cloud and AI infrastructure investments.