By Victor Tangermann
Publication Date: 2026-03-09 18:34:00
AI companies spend huge amounts of money on data centers – infrastructure expenditure that sometimes comes with outrageous prices.
As Bloomberg reported Last week, Larry Ellison’s oracle perhaps stretched itself a little too far. The company plans to cut thousands of jobs due to a “cash crunch” resulting from a massive AI data center expansion.
Insider sources told the medium that at least some of the eliminated positions will impact categories that are no longer needed due to AI. Even job openings in the cloud department are reportedly being reviewed, indicating serious retrenchment efforts.
One day after the story was published Bloomberg subsequently reported that the company had ended its plans to expand its flagship AI data center in Abilene, Texas, after “financing negotiations became protracted” and its…
