Oracle and Meta are raising cash

Oracle is raising USD 20 bn by selling about USD 10 bn in new shares at USD 116 apiece and another USD 10 bn in bonds, the company said in a press release. The sale, which will help fund the company’s AI buildout, comes days after Oracle said it plans more data centers in the UAE and Saudi Arabia, as we reported on Tuesday.

MEANWHILE- Meta is borrowing USD 15 bn from investors by selling bonds — money it will use to build out its AI, Reuters reports. The Facebook owner is also planning to sell up to USD 97.5 bn in new shares in a series of rolling offerings.

AND- AMD says demand for its AI chips is holding up. The chipmaker expects USD 17 bn in revenue this quarter, well above the USD 16.3 bn analysts had forecast, Bloomberg reports.

CLOSER TO HOME: Humain has absorbed CNTXT, a Saudi cloud, data, and cybersecurity services company, per a press release. CNTXT launched in 2022 as an Aramco-Cognite joint venture and has been Google Cloud’s exclusive reseller in the Kingdom since 2023. No terms were disclosed. Aramco took a 49% stake in Humain earlier this week.