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Oracle reportedly lays off thousands of employees to bankroll its massive AI infrastructure bet
Oracle is cutting thousands of jobs to fund its massive AI data center buildout. With the stock down 25 percent and debt mounting, the company is banking on billions in guaranteed revenue, including a $455 billion order from OpenAI. But whether that money will actually materialize is far from certain.
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forbes.com
Oracle Fires Thousands Of Employees
The company reportedly cited its “current business needs” in its decision.
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cnbc.com
Oracle cutting thousands in latest layoff round as company continues to ramp AI spending
Oracle has ratcheted up its capital expenditures as it builds data center infrastructure that can handle AI workloads.
