By Kumar
Publication Date: 2026-02-02 15:36:00
Artificial intelligence continues to pose a threat to software workers. In a recent development, tech giant Oracle is considering laying off up to 30,000 employees as part of its $300 billion partnership with Sam Altman’s OpenAI.
US banks have pulled back from lending to Oracle-affiliated data center projects. The technology giant is facing a serious financial crisis after its heavy investments in OpenAI.
By eliminating over 20,000 to 30,000 jobs, Oracle is expected to save an estimated $8 billion to $10 billion, allowing the company to fund a network of AI data centers as part of its partnership with OpenAI and also for its other major customers such as AMD, xAI, Meta, Nvidia and TikTok.
Oracle, chaired by billionaire Larry Ellison, said it plans to raise $45 billion to $50 billion in debt and equity in 2026 to finance the expansion of its cloud computing business. The announcement of a debt increase caused the Oracle…
