Business

2107 readers

18 users here now

A place to share business news and insights.

Rules

Follow lemmy.world rules
Only post content related to business
Do not use this community to promote your business

founded 3 years ago

MODERATORS

odrel@lemmy.world

jordanlund@lemmy.world

114

AI spending spree hits $600b as Oracle fires 21,000 employees to fund boom (www.jpost.com)

submitted 5 days ago by VetOfTheSeas@discuss.online to c/business@lemmy.world

13 comments fedilink hide all child comments

Oracle laid off ~13% of its staff to fund a $300B computing deal with OpenAI. Now, a credit downgrade and $7B in required power grid guarantees put the massive project in jeopardy.

you are viewing a single comment's thread
view the rest of the comments

[–] NaibofTabr@infosec.pub 35 points 5 days ago (2 children)

These companies are cannibalizing themselves to pump money into provably unreliable technology.

[–] gdog05@lemmy.world 6 points 5 days ago (1 children)

The end goal is obviously not money. At least not in currency and economy as we currently know it. Rather the individual fiat bearers for the cost of existence for everyone.

[–] 4am@lemmy.zip 4 points 5 days ago

I’m glad I’m not the only one who sees the true grift

[–] Bohne93@feddit.org 2 points 5 days ago

Ouroboros devours itself not because it wants to.