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According to the latest news, Oracle Corporation of the United States plans to cut thousands of jobs to address the financial strain caused by the large-scale expansion of AI data centers. The layoffs will affect multiple departments and are set to be implemented as early as this month, with some cuts focusing on positions that have seen reduced demand due to AI development. Under the leadership of Chairman Larry Ellison, Oracle is massively constructing data centers to provide AI computing power for clients such as OpenAI. Wall Street expects that data center spending in the cloud computing division will keep cash flow negative for the next few years, with returns not expected until 2030. To this end, Oracle plans to raise up to $50 billion through debt and equity financing.
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