Oracle Plans Thousands of Job Cuts Amid Rising AI Data Center Costs

Oracle plans to cut thousands of jobs across multiple divisions to address a cash crunch caused by its extensive AI data center expansion. The company, led by Chairman Larry Ellison, is investing heavily to support AI clients like OpenAI, xAI, and Meta, with capital expenditures expected to rise significantly. Layoffs may target roles expected to shrink due to AI automation, and hiring freezes are underway in the cloud division. Oracle aims to raise up to $50 billion this year through debt and equity to fund its AI infrastructure, with returns anticipated around 2030.