Oracle has launched a $20 billion capital-raising initiative to finance its ambitious AI infrastructure expansion, comprising $10 billion in investment-grade bonds and approximately $10 billion in common stock. The proceeds will support general corporate purposes, including capital expenditures and dividend payments. Bank of America is leading both offerings. The bond sale will be structured in six tranches with maturities ranging from three to 20 years. Oracle is reportedly offering a premium of approximately 50 basis points over its existing debt to attract investors, while initial pricing for its longest-term bonds points to a spread of roughly 360 basis points over Treasuries. The fundraising comes amid growing investor concerns about the debt burden and returns associated with massive AI infrastructure investments. Oracle recently pledged to limit gross debt growth to $10 billion through fiscal 2030 and projected stronger free cash flow to reassure investors. $ORCL