AIHacker Newsabout 3 hours ago
Oracle fires 21,000 employees to fund AI spending
1 min read
Oracle slashed 21,000 employees, roughly 13% of its workforce, by the end of fiscal year 2026 to fund AI infrastructure. The cuts followed a $300 billion contract with OpenAI and a severe cash squeeze. A planned one-gigawatt data center in Port Washington, Wisconsin now faces a $7 billion collateral requirement after Oracle's credit rating dropped to BBB-.
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