在承诺将新增借款上限设定为200亿美元、直至2030财年结束仅一周后，甲骨文启动计划一次性借入这笔全部金额。周一向投资者发布的通知显示，这家“大红帽”公司正发行价值100亿美元的债券，同时发行100亿美元的普通股股份。公司表示，所募资金可用于营运资金、资本支出、合同义务、收购、分红、股票回购、偿还债务及其他事项。
The week after promising to cap new borrowing at $20 billion until the end of its 2030 financial year, Oracle launched plans to borrow all that in one go. In notices to investors on Monday, Big Red said it is offering bonds worth $10 billion together with $10 billion in shares of its common stock. It said it could use the money for working capital, capital expenditures, contractual obligations, acquisitions, dividends, stock repurchases, debt repayments and other matters.
最可能的用途是为数据中心融资，因为这家科技巨头正处于资本支出狂潮之中，2026财年（5月结束）支出达557亿美元。公司计划在2027财年支出900亿至950亿美元。
The most likely candidate is financing datacenters, as the tech giant is in the middle of capex binge which saw $55.7 billion spent in fiscal year 2026, which ended in May. The company plans to spend between $90 billion and $95 billion in fiscal 2027.
上周，公司告诉投资者，将把新增借款限制在200亿美元以内，直至2030财年结束（该财年于2030年5月结束）。它承诺将通过在基于席位的订阅费之上收取AI使用费，从客户处获得更多收入。首席财务官希拉里·马克森在分析师活动上表示，甲骨文将寻求在2027财年剩余时间（5月结束）内借入这200亿美元，暗示随后两年将不再有新增借款。马克森证实了这一说法。“这是真正的承诺。我们不预期会有其他形式的结构化融资，或利用甲骨文信用在市场上进行的其他操作，”她说。
Last week, the company told investors it would limit new borrowing to $20 billion until the end of its financial year 2030, which ends in May that year. It promised to get more revenue from customers by charging for AI usage on top of seat-based subscriptions. CFO Hilary Maxson also told an analysts' event that Big Red would look to borrow the $20 billion during the remainder of fiscal 2027, which ends in May, implying there would be no new borrowing for the following two years. Maxson confirmed this was correct. “That's a real commitment. We don't expect other forms of structured financing or other things using our Oracle credit out in the market,” she said.
7月，甲骨文表示，为与Vantage和OpenAI在威斯康星州开发的近1吉瓦数据中心园区的电力承诺提供担保，每年可能面临超过1亿美元的融资成本。10月，据报道甲骨文向蓝猫头鹰资本旗下正在新墨西哥州开发“木星项目”的子公司发出了不可抗力通知。彭博社报道称，甲骨文寻求在园区未能按计划上线时推迟付款，而非退出项目。甲骨文表示，该开发项目仍按计划进行。
In July, Oracle said it could face more than $100 million a year in financing costs to guarantee the power commitments behind a nearly 1 GW datacenter campus it is developing in Wisconsin with Vantage and OpenAI. In October, Oracle reportedly sent a force majeure notice to a Blue Owl Capital subsidiary developing Project Jupiter in New Mexico. Bloomberg reported that Oracle was seeking to defer payments if the campus failed to come online as planned, rather than withdraw from the project. Oracle says the development remains on schedule.
去年9月，甲骨文在宣称拥有4550亿美元剩余履约义务（RPO）后估值飙升，其中3000亿美元最终被证实来自OpenAI，而这些几乎全部围绕为AI算力租赁数据中心展开。®
In September last year, Oracle's valuation rocketed after it boasted $455 billion in RPOs, $300 billion of which turned out to be for OpenAI, all largely based around leasing datacenters for AI compute. ®