Oracle Plans Large Layoffs To Fund Data Centers

Oracle is reportedly planning to cut up to 30,000 jobs to fund an ambitious expansion of AI data centers, after several US banks pulled back from lending, according to reports citing TD Cowen and CIO. The research estimates Oracle needs about $156 billion in capital expenditure, may sell assets including Cerner, require customers to supply their own chips, and expects to raise $45–50 billion in 2026 to build cloud capacity.