Oracle on Wednesday said it would invest $70bn in the coming year to finance its data centre build-out, as rising debt and flat revenue guidance spooked investors.
The database group said capital expenditure would climb 25 per cent, up from $55.7bn in the fiscal year that ended May 31. The planned spending was broadly in line with expectations and came as Oracle said it expected to raise $40bn in debt and equity over the next 12 months.
The spending figure came even as the group said that its sales forecast for the next fiscal year would remain flat at about the $90bn it guided in March.
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