Source: New York Post
Enterprise software company Oracle is planning thousands of job cuts as it faces a cash crunch from a massive AI data center expansion effort, Bloomberg News reported Thursday. Long a smaller contender in the cloud market, over the past year Oracle has emerged as a major player in the business of renting computing power thanks, in part, to its $300 billion deal with OpenAI. But investors have grown worried about how it would fund the data center expansion needed to serve OpenAI and other customers, including Elon Musk’s xAI and Meta.
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