Oracle is negotiating with Apollo Global Management and Goldman Sachs to raise financing for AI chip purchases, with the company's total debt load now exceeding $169 billion, Yahoo Finance reports.

The figure places Oracle among the most heavily indebted companies financing the current wave of AI infrastructure construction. The talks with Apollo and Goldman center on funding the acquisition of processors needed to expand Oracle's cloud and AI compute offerings.

Why is Oracle raising chip financing now?

AI chips — chiefly high-end GPUs — carry substantial upfront costs, and demand for compute capacity from AI developers has pushed cloud providers into large-scale procurement commitments. Oracle has positioned its cloud infrastructure business as a host for AI workloads, which requires continuous capital outlay for silicon.

Debt-financed procurement allows the company to spread those costs over time rather than drawing on cash reserves. The reported $169 billion debt total frames the scale of the bet Oracle has already placed on AI infrastructure.

Who are the financing partners?

According to the report, two names dominate the discussions:

• Apollo Global Management — the alternative asset manager, a frequent provider of large private credit facilities
• Goldman Sachs — the investment bank, which structures and syndicates financing for corporate infrastructure programs

The talks remain at the courting stage, per the report. No deal terms, facility size, or timeline have been disclosed.

What does the debt figure signal?

Crossing the $169 billion mark in total debt makes Oracle's balance sheet a central variable in its AI strategy. Investors and credit analysts typically scrutinize such leverage against contracted revenue — in Oracle's case, the multi-year cloud commitments tied to AI workloads.

The financing negotiations indicate Oracle intends to keep buying chips on a large scale despite the accumulated debt. Whether Apollo, Goldman, or a combination of both provides the facility, the structure of any deal will determine how the chip purchases sit on Oracle's balance sheet.

What comes next?

Watch for the announcement of a signed financing facility, its size, and its pricing. Any formal agreement with Apollo or Goldman Sachs would be disclosed through regulatory filings and would clarify how Oracle plans to manage its $169 billion-plus debt load while continuing its AI infrastructure expansion.

The outcome will also serve as a reference point for other technology companies weighing debt-funded AI chip procurement at comparable scale.