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Oracle plans to lay off thousands of employees to address funding shortages caused by AI development
1 day ago /
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Author：小编
Oracle (ORCL.N) plans to lay off thousands of employees in response to funding constraints arising from the expansion of AI data centers. The layoffs will affect multiple departments and are expected to commence as early as this month, with some targeting positions that have seen reduced demand due to AI advancements. Wall Street anticipates that Oracle's data center expenditures in its cloud computing division will keep its cash flow negative for the coming years, with returns expected to begin in 2030. Last month, Oracle announced plans to raise up to $50 billion this year through bond and stock issuance.
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