Oracle is betting big on AI and debt. Now Larry Ellison could cash in $7.5 billion
New Delhi, Sept. 12 -- Larry Ellison has adopted a trading plan that could allow him to sell as many as 50 million Oracle shares, worth about $7.5 billion at the current price. Oracle's aggressive push into artificial intelligence infrastructure is putting pressure on its finances even as the company's cloud business accelerates.
Larry Ellison adopted the trading plan on June 22, and it will run until October 24, according to a regulatory filing published on Friday. The move comes as Oracle takes on substantial debt to fund the construction of large-scale data centres for AI customers, while also cutting costs and reducing its workforce.
Ellison controls more than 40% of Oracle, according to FactSet. If he sells all 50 million shares co...
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