Oracle Corporation has unveiled a 2026 capital‐raising plan of $45 billion to $50 billion to fuel its AI‐driven cloud infrastructure expansion. The company intends to split the funding equally between debt and equity issuance, including a one-time senior unsecured bond offering and a $20 billion at-the-market equity program. This dual‐track approach is designed to preserve Oracle’s investment-grade credit rating while securing resources to meet contracted capacity commitments for major customers such as NVIDIA, Meta and OpenAI.

As of the end of the most recent reporting period, Oracle holds approximately $205 billion in total assets against $174.5 billion of liabilities, leaving shareholders’ equity near $29.95 billion. The company maintains roughly $19.24 billion in cash and equivalents and carries long-term debt of about $99.98 billion. Operating cash flow remains strong despite heavy capital expenditures, a fact highlighted by Barclays in its reaffirmation of an Overweight rating. This financial flexibility undergirds Oracle’s capacity to execute its data‐center rollout without jeopardizing balance-sheet stability.

Oracle’s capital spending program is projected to reach $408.4 billion by 2029, primarily debt-funded, driving negative free-cash-flow margins through fiscal 2029 before normalizing post-2030. Despite a near-term increase in leverage and margin compression, management points to sustained 57% operating margins and the potential for tripling non-GAAP EPS by 2030 on the back of a revenue ramp from $57 billion in fiscal 2025 to an estimated $225 billion in fiscal 2030. Key risks include elevated debt levels, possible dilution from equity issuances, continued negative FCF, and execution challenges in scaling AI data centers globally.