Oracle plans to raise $20 billion through bonds and stock sales

Shares of the company slipped 3.5% in premarket trading.

Oracle said it will use the money for general corporate purposes. That can include capital spending, paying down debt, acquisitions, dividends and share buybacks.

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The company said last week that it expects capital spending to peak this fiscal year and the next as it builds more cloud-computing capacity, but pledged to raise no more than $20 billion in additional financing for AI through fiscal 2030.