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AI spending spree hits $600b as Oracle fires 21,000 employees to fund boom (www.jpost.com)

submitted 2 days ago by VetOfTheSeas@discuss.online to c/business@lemmy.world

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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.

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[–] gdog05@lemmy.world 12 points 2 days ago (1 children)

The end goal is obviously not money. At least not in currency and economy as we currently know it. Rather the individual fiat bearers for the cost of existence for everyone.

[–] 4am@lemmy.zip 6 points 2 days ago

I’m glad I’m not the only one who sees the true grift