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

submitted 12 hours 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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[-] NaibofTabr@infosec.pub 35 points 11 hours ago

These companies are cannibalizing themselves to pump money into provably unreliable technology.

[-] Bohne93@feddit.org 4 points 7 hours ago

Ouroboros devours itself not because it wants to.

[-] gdog05@lemmy.world 8 points 9 hours ago

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 5 points 7 hours ago

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

this post was submitted on 02 Aug 2026

127 points (100.0% liked)

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