Oracle Raises $18 Billion in Second-Biggest Bond Sale This Year

Oracle Corp. sold $18 billion US investment-grade bonds on Wednesday, the market’s second-largest deal this year, as the software maker ramps up its spending to meet the needs of the artificial intelligence boom.

Demand peaked at nearly $88 billion, according to a person with knowledge of the matter.

The technology giant — which has nearly doubled in value this year — issued the debt in six parts, including a rare 40-year bond, people familiar with the matter said, asking not to be identified discussing private details. That note will yield 1.37 percentage points above similarly dated Treasuries, compared with initial ...