AI bet goes awry: Oracle fires 21,000 employees | The Jerusalem Post
www.jpost.com
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.
  • comador @lemmy.worldEnglish
    0·
    2 months ago

    Couldn’t happen to a better group of companies. Let them all beg for bailouts and be denied.

    • db2@lemmy.worldEnglish
      1·
      2 months ago

      and be denied

      Maybe under a sane leadership, certainly not now. Trump will give them a bailout and a shipping container full of “deported” teenagers.

  • arc99@lemmy.worldEnglish
    0·
    2 months ago

    I really want one or more of these AI companies to fail hard. I think their only strategy is literally to burn through billions hoping it’ll be another company that goes to the wall first and they’ll somehow reap the rewards by hanging on longer.

    • curiousaur@reddthat.comEnglish
      01·
      2 months ago

      They’ve made it so they will all fail together. They’re bound. This way they can ensure a bailout, because if they don’t get a bailout, they will have a significant effect on the us economy on their way down.