Technology

⚡Layoffs: Oracle Faces Bank-Debt Problem Due to Deal With OpenAI Amid Cutting 30,000 Jobs

By Team Latestly

Oracle is implementing significant layoffs, with estimates reaching up to 30,000 roles, to manage its financial health. Simultaneously, the company faces challenges securing billions in bank loans for AI data centres due to lender exposure limits. This highlights the immense financial strain on tech firms pivoting to support massive AI infrastructure demands.

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