Oracle said it plans to raise between $45 billion and $50 billion in calendar year 2026 through a combination of equity and debt financing to support the expansion of its Oracle Cloud Infrastructure (OCI) business.
In a statement to investors, the company said the financing is intended to fund infrastructure capacity required to meet contracted cloud demand from large enterprise and technology customers, including AMD, Meta, NVIDIA, OpenAI, TikTok, and xAI, while maintaining an investment-grade balance sheet.
The plan, approved by Oracle’s board of directors, comes as the company continues to scale OCI to support growing workloads across enterprise applications, data platforms, and cloud services.
Cloud platform expansion and capital strategy
Oracle operates its ERP applications, databases, and cloud infrastructure as one integrated system. OCI underpins these offerings and serves as the hosting platform for customer deployments.
As demand for cloud-based enterprise systems has increased, Oracle has accelerated investment in data center capacity. The company said the proposed financing is aligned with existing contractual commitments for cloud services rather than speculative expansion.
Oracle said roughly half of the targeted funding will come from equity issuance, including mandatory convertible preferred securities and an at-the-market equity program of up to $20 billion. The remainder will be raised through a one-time issuance of senior unsecured investment-grade bonds.
The company said it does not expect to issue additional debt bonds during calendar year 2026.
The equity program will allow it to issue shares incrementally based on market conditions, while the bond issuance is expected to occur early in 2026.
Goldman Sachs & Co. LLC will act as lead manager for the bond offering, and Citigroup will lead the equity program.
For enterprise customers running ERP and other core systems on OCI, the investment is intended to ensure platform scalability, performance, and delivery continuity.
From a financial perspective, Oracle said the mix of equity and debt is intended to balance funding needs with long-term balance sheet discipline as cloud infrastructure investment accelerates.
What This Means for ERP Insiders
Cloud infrastructure investment is becoming central to ERP delivery. Oracle’s financing plan highlights how ERP availability and performance increasingly depend on large-scale infrastructure funding rather than application-layer changes alone.
Cloud commitments now shape vendor financial strategy. The size and structure of Oracle’s capital raise reflects how long-term customer contracts are influencing balance sheet decisions tied directly to cloud service delivery.
Infrastructure assurance is part of ERP evaluation. As ERP systems move deeper into vendor-managed cloud platforms, infrastructure capacity and delivery commitments are visible factors in enterprise ERP decisions.
