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AI spending spree hits $600b as Oracle fires 21,000 employees to fund boom (www.jpost.com)
submitted 9 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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[-] Racoonwithbenefits@lemmy.zip 5 points 5 hours ago

Wonder how many of these ai companies will be “too big to fail” and bailed out by governments, once the bubble bursts

this post was submitted on 02 Aug 2026
119 points (100.0% liked)

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