By Matt Tracy

(Reuters) -Oracle Corp bonds have taken a hit in recent days following a report that the cloud and artificial intelligence service provider plans to add another $38 billion to its heavy debt load to fund its AI infrastructure, according to analysts and investors.

Oracle did not immediately respond to a request for comment.

Oracle has invested billions of dollars to build out its cloud and AI infrastructure this year. With roughly $104 billion in debt outstanding, including $18 billion in bonds, the company is spending more than it earns from operations as it bets on future profits through contracts with startups such as Sam Altman-owned OpenAI.