Larry Ellison cancels plan to sell Oracle stock

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September 12, 2026 2:38 PM EDT

Larry Ellison reacts, at the White House, in Washington, U.S. February 3, 2025. REUTERS/Elizabeth Frantz

Sept 12 (Reuters) - Oracle Executive ‌Chairman Larry ​Ellison has ​canceled his plan to sell 50 million shares of Oracle stock, the company said on Saturday.

"No Oracle stock was ‌sold under that plan, and he has no other ⁠plans to sell any of his Oracle stock," the company said.

This comes a ‌day after Ellison said that ‌a trading plan would allow him to sell up to 50 million shares of Oracle common stock.

Oracle in February said it ​expects to raise $45 billion to $50 billion in 2026 in a combination of debt and stock to build additional capacity for ⁠its cloud infrastructure and meet demand from customers including AMD, Meta, Nvidia, OpenAI, TikTok and ​xAI.

The company said it plans to raise $40 billion through debt and equity financing in the current fiscal ​year, including the $20 billion stock sale completed ‌in the first quarter.

In a regulatory filing on Friday, the firm said restructuring costs, part of a ⁠plan that includes job cuts, will rise by about $700 million as it navigates a volatile stretch for its stock, with investors seemingly split between ⁠confidence in its AI-driven growth and concern over how it is funding that ​growth.

Oracle's shares rose as much as 7.8% on Friday after a $26 billion increase in its revenue backlog eased some concerns about its debt-fueled spending spree. ‌The stock later reversed course to close about 2% lower, as analysts said a recovery in cash ‌flow remains some way off.

That, coupled with upbeat first-quarter earnings and ⁠an improving balance sheet, helped ‌Oracle's shares recover ​from a spell of underperformance.

(Reporting by Sumedha Mukherjee and Preetika Parashuraman in Bengaluru; Editing by Will Dunham and ‌Chizu Nomiyama )


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