By Simply Wall St
Publication Date: 2026-03-07 00:19:00
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Oracle plans to cut thousands of jobs across multiple departments to manage costs associated with expanding its AI data center.
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The company is reportedly shifting its spending to large cloud infrastructure projects for customers such as OpenAI and Meta.
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Oracle and OpenAI have also decided to cancel a planned flagship AI data center project in Texas.
For investors watching NYSE:ORCL, these moves come with a share price of about $152.96, after rising 5.2% last week and 4.3% last month. Shares were roughly flat over the past year, down 0.4%, but up 88.6% over three years and 143.9% over five years, putting recent headlines against a backdrop of longer-term gains.
The combination of major investments in AI infrastructure, workforce cuts and a scrapped project in Texas shows how Oracle is recalibrating its approach…