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 1 day 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 31 points 20 hours 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 16 hours 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 9 hours 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 6 hours ago

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

[–] Rooster326@programming.dev 7 points 20 hours 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 3 points 13 hours ago (1 children)

True, but line isn't going down yet.

[–] bitjunkie@lemmy.world 2 points 8 hours ago

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