Larry Ellison cancels plan to sell Oracle stock

Oracle said on Saturday that executive chairman Larry Ellison has canceled a plan to sell 50 million shares of Oracle stock. The company stated that “no Oracle stock was sold under that plan” and that Ellison has “no other plans to sell any of his Oracle stock.” The move comes a day after Ellison said a trading plan would allow him to sell up to 50 million shares of Oracle common stock. Oracle has said it expects to raise $45 billion to $50 billion in 2026 via debt and stock to expand cloud infrastructure, including a $20 billion stock sale completed in the first quarter. The stock had risen as much as 7.8% on Friday before closing about 2% lower.