this post was submitted on 02 Aug 2026
167 points (98.3% liked)

Business

2106 readers
15 users here now

A place to share business news and insights.

Rules

  1. Follow lemmy.world rules
  2. Only post content related to business
  3. Do not use this community to promote your business

founded 3 years ago
MODERATORS
odrel@lemmy.world
jordanlund@lemmy.world
167
AI spending spree hits $600b as Oracle fires 21,000 employees to fund boom (www.jpost.com)
submitted 1 day ago by VetOfTheSeas@discuss.online to c/business@lemmy.world
13 comments fedilink hide all child comments
 

Oracle laid off ~13% of its staff to fund a $300B computing deal with OpenAI. Now, a credit downgrade and $7B in required power grid guarantees put the massive project in jeopardy.

you are viewing a single comment's thread
view the rest of the comments
[–] big_slap@lemmy.world 17 points 1 day ago

infuriating is an understatement for sure 🫩