One-sentence summary
Oracle said on November 2 it will raise no more than $20B in additional debt and equity for AI infrastructure through fiscal 2030, expanding its Nvidia chip deal; FCF is expected to turn positive in 2H2028 and top $30B in 2029.
Event Overview
On November 2, 2026, Oracle laid out the financing pace and cash-flow path for its AI infrastructure expansion, and expanded its chip supply agreement with Nvidia.
Key Information
- Oracle pledged to raise no more than $20 billion in additional debt and equity for AI infrastructure expansion through fiscal 2030.
- It expanded its chip supply deal with Nvidia to support AI cloud capacity.
- Per CFO Hilary Maxson, Oracle expects free cash flow to turn positive in the second half of 2028.
- It expects free cash flow to exceed $30 billion in 2029.
Official Sources
- Global Business Outlook: Oracle caps additional AI funding at $20B
