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Technology@lemmy.worldEnglish · 1 month ago

AI bet goes awry: Oracle fires 21,000 employees

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AI bet goes awry: Oracle fires 21,000 employees

sanitation@lemmy.today to

Technology@lemmy.worldEnglish · 1 month ago

AI bet goes awry: Oracle fires 21,000 employees | The Jerusalem Post

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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turdburglar@piefed.social
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1 month ago
i thought tech valuations were based off of vibes and social currency
- Knock_Knock_Lemmy_In@lemmy.world
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  Initially maybe. Long term, money has to be returned.

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