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.
Pop that bubble, baby!
Oracle Layoffs: Tech giant to slash 30,000 jobs as banks pull out from financing AI data centres | Company Business News
Submitted 6 hours ago by Deceptichum@quokk.au to technology@lemmy.world
Comments
hydrashok@sh.itjust.works 2 hours ago
tal@lemmy.today 6 hours ago
Note that the article is from the beginning of February.
cheese_greater@lemmy.world 5 hours ago
Why did it take so long
Passerby6497@lemmy.world 4 hours ago
Fuckin explains a lot of the last month’s issues
JasonDJ@lemmy.zip 2 hours ago
One rich asshole called Larry Ellison.
FiniteBanjo@feddit.online 5 hours ago
YESSSSSS~
XLE@piefed.social 4 hours ago
This is technically job loss caused by AI…
pelespirit@sh.itjust.works 5 hours ago
Real jobs or AI jobs.
xxce2AAb@feddit.dk 5 hours ago
It’s Oracle: It’s not like they deliver value either way.
FiniteBanjo@feddit.online 5 hours ago
Real Temporary Jobs building and managing the AI Datacenters.
minorkeys@lemmy.world 3 hours ago
That’s a good point to remember when future job numbers are shared.
doug@lemmy.today 5 hours ago
Pull out, don’t pull out, we’re fucked either way.
tlekiteki@lemmy.dbzer0.com 3 hours ago
old news!
Not_mikey@lemmy.dbzer0.com 54 minutes ago
The bubble popping seems inevitable at this point. Before the Giants were funding this by their core business plus loans backed by their core business. Now they’ve stretched their credit so much that no one’s giving them loans anymore and instead of cutting back on the building spree they’re making cuts to their core business. They’re betting that their customers are so locked in that they won’t leave despite degradation in service. How deep oracle, AWS, googles hooks are in people remain to be seen, people seem to tolerate a lot of enshitification, but there’s gotta be a tipping point. Once they reach that and the core business crashes all the rest of the dominos will fall.