Oracle says it plans to raise $50 billion amid job cut reports

Amid reports suggesting plans to cut 30,000 jobs, Oracle announced raising $45-50 billion in 2026. It plans to raise funds for additional cloud infrastructure capacity to meet demand from AMD, Meta, NVIDIA, OpenAI, TikTok, and xAI. The firm, chaired by billionaire Larry Ellison, said that this move aims to "achieve its funding objectives using combination of debt and equity financing".