Oracle sued by bondholders over losses tied to AI buildout

NEW YORK, Jan 14 (Reuters) – Oracle (ORCL)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.

(Reporting by ‌Jonathan Stempel in ‌New York)