Enterprise software and AI giant Oracle is reportedly preparing to slashs thousands of jobs as it grapples with financial pressures stemming from its massive AI data center expansion effort.
Bloomberg reports that Oracle, the software giant chaired by billionaire Larry Ellison, is facing mounting financial challenges as it works to expand its cloud computing infrastructure to meet surging demand from major AI clients. The company has transformed from a smaller player in the cloud market to a significant force in the business of renting computing power, largely due to its substantial $300 billion agreement with OpenAI.
However, this rapid…
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