Oracle sued by bondholders over losses tied to AI buildout

Oracle was sued on ⁠Wednesday by bondholders who say they suffered ‌losses ‌because the company led ‌by billionaire Larry Ellison failed to disclose it needed to sell significant additional debt to build ‌out ‍its artificial ‍intelligence infrastructure.

The proposed class action ‌was filed in a New York state court in Manhattan on behalf of ‍investors who bought $18 billion of ‍notes ⁠and ⁠bonds that Oracle issued in September. Ellison and Oracle's banks were also named as defendants.