this post was submitted on 07 Mar 2026
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Oracle Layoffs: Tech giant to slash 30,000 jobs as banks pull out from financing AI data centres | Company Business News (www.livemint.com)
submitted 2 days ago by Deceptichum@quokk.au to c/technology@lemmy.world
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Over the past few weeks, several US banks have pulled off from lending to Oracle for expanding its AI data centres, as per a report.

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[–] hanrahan@slrpnk.net 35 points 1 day ago (2 children)

I was listening to a finance YT vid last night and the dude said if it wasn't for the enormous AI spend, the US would be deep in a technical recession now.

obviously the fault of immigrants and those on food stamps though /s

[–] SocialMediaRefugee@lemmy.world 4 points 1 day ago (1 children)

Those damn immigrants taking up all of the best landscaping, slaughterhouse, roof tarring, and crop picking jobs.

[–] andallthat@lemmy.world 3 points 1 day ago (1 children)

Ironically the only jobs that Anthropic and OpenAI claim AI won't take. All those newly minted AI billionaires and nobody to maintain their golf courses... How sad is that?

[–] SocialMediaRefugee@lemmy.world 2 points 1 day ago

What good is being super wealthy if you can't feel superior to other people?

[–] Rooster326@programming.dev 7 points 1 day ago (1 children)

We are in a deep recession?

The enormous AI spend isn't going to me, or you, or anyone I ever met.

[–] Saledovil@sh.itjust.works 4 points 1 day ago (1 children)

True, but line isn't going down yet.

[–] bitjunkie@lemmy.world 2 points 1 day ago

Because none of the checks they've kited have come due