posted in Technology
AI bet goes awry: Oracle fires 21,000 employees
www.jpost.com/business-and-innovation/tech-and-start-ups/article-903442
The Jerusalem Post | JPost.comAI bet goes awry: Oracle fires 21,000 employees | The Jerusalem PostOracle laid off ~13% of its staff to fund a $300B computing deal with OpenAI. Now, a credit downgrade and $7B in required power grid guarantees put the massive project in jeopardy.
Replying to @sanitation@lemmy.today
I really want one or more of these AI companies to fail hard. I think their only strategy is literally to burn through billions hoping it’ll be another company that goes to the wall first and they’ll somehow reap the rewards by hanging on longer.
Replying to @arc99@lemmy.world
They’ve made it so they will all fail together. They’re bound. This way they can ensure a bailout, because if they don’t get a bailout, they will have a significant effect on the us economy on their way down.