Continue fueling AI expenses! Oracle (ORCL.US) reportedly close to selling $10 billions in stocks at an 11% discount, priced at $116.

According to Golden Ten Data APP, sources reveal that Oracle (ORCL.US) is close to pricing a $10 billion stock offering, with the price set at an 11% discount to the market. Earlier this week, the company’s shares took a hit during the first volatile trading session. According to insiders, the company expects to price the offering at $116 per share. At this price, it represents a discount compared to last Friday’s closing price of $130.67 before the transaction was announced.

Sources stated that discussions are still ongoing, and details including the size and pricing of the offering may still change. Reportedly, prior to this stock offering, the company issued $10 billion in bonds on Monday, divided into five tranches with maturities ranging from three to twenty years.

According to filing documents, Bank of America led both the stock and bond transactions. Representatives for Oracle and Bank of America did not immediately respond to requests for comment.

Oracle has raised billions of dollars this year by selling shares to diversify its sources of capital for massive AI-related expenditures. The fundraising race comes as Anthropic PBC is preparing for a potentially record-breaking initial public offering (IPO), and following large stock offerings completed by Intel (INTC.US), Alphabet (GOOGL.US), and Meta Platforms (META.US).

Reportedly, after confidential pitches to certain existing investors, sovereign wealth funds, and long-only investors, the latest stock offering received demand far in excess of its planned fundraising size before pricing.