Oracle Corp. invested US$55.7 billion in capital expenditures over the past year to accelerate the expansion of its AI infrastructure business, exceeding its earlier projection of US$50 billion.

Quarterly capex totaled US$15.9 billion in the period ended May 31, highlighting the company's massive data center buildout to meet growing demand from OpenAI and other customers developing artificial intelligence applications.

The company, long known for its database software, has increasingly repositioned itself as a provider of computing capacity for AI workloads. Oracle also announced plans to raise US$50 billion through debt and equity financing this year to support its capital needs.

Oracle's closely watched infrastructure segment posted revenue growth of 93% year-over-year to US$5.8 billion, slightly ahead of analysts' expectations for 91% growth.