Technology
Larry Ellison cancels plan to sell 50 million Oracle shares a day after disclosing the 10b5-1 plan
Oracle said Saturday that executive chairman Larry Ellison scrapped a 10b5-1 trading plan that would have let him offload up to 50 million Oracle shares, and that he has no other plans to sell. The reversal came a day after a Friday regulatory filing in which Oracle disclosed restructuring costs tied to a job-cut plan would rise by about $700 million to roughly $2.8 billion as it ramps AI-related spending; the company also plans to raise $40 billion in debt and equity this fiscal year to fund cloud capacity for customers including AMD, Meta, Nvidia, OpenAI, TikTok and xAI.