105

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.

top 8 comments
sorted by: hot top controversial new old
[-] Racoonwithbenefits@lemmy.zip 4 points 2 hours ago

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

[-] Zier@fedia.io 12 points 4 hours ago

I hope they all go bankrupt. This is gambling addiction at it's highest peak. And the higher the peak, the thinner the oxygen.

[-] disorderly@lemmy.world 38 points 6 hours ago

As a result, Oracle is now required to provide cash collateral or a letter of credit in the astronomical sum of over $7 billion just to connect the building to the power grid, a setup whose ongoing maintenance will cost the company more than $100 million annually.

It's been positively infuriating to watch government bodies bend every fucking law for these companies at the expense of their constituents. I am glad that Wisconsin is telling them to put up or shut up.

[-] NaibofTabr@infosec.pub 25 points 6 hours ago

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

[-] Bohne93@feddit.org 2 points 2 hours ago

Ouroboros devours itself not because it wants to.

[-] gdog05@lemmy.world 6 points 4 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 3 points 2 hours ago

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

[-] ZeroGravitas@lemmy.dbzer0.com 5 points 6 hours ago

To be clear, "boom" in this context is the original, dynamite generated sound?

I'm into it.

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

Business

2106 readers
132 users here now

A place to share business news and insights.


Rules


  1. Follow lemmy.world rules
  2. Only post content related to business
  3. Do not use this community to promote your business

founded 3 years ago
MODERATORS