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TD Cowen, an investment banking arm of TD Securities, has indicated that in light of a shift in market sentiment regarding Oracle's ambitious expansion blueprint, the tech giant may be compelled to lay off 30,000 workers. Additionally, Oracle is considering offloading its healthcare technology subsidiary, Cerner, as a means to ease the financial strain associated with funding its artificial intelligence data center projects.
Earlier, Oracle had entered into a pact with OpenAI to construct data centers with an estimated value of $300 billion. In September of the previous year, Oracle successfully raised $18 billion through bond issuance. However, it is projected that the company will require an annual borrowing of $25 billion to sustain its ongoing expansion endeavors.
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