this post was submitted on 08 Mar 2026
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cross-posted from: https://quokk.au/c/technology/p/732769/oracle-layoffs-tech-giant-to-slash-30000-jobs-as-banks-pull-out-from-financing-ai-data-centr

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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[–] nothingcorporate@lemmy.today 40 points 4 days ago (1 children)

AI goes well: mass layoffs.
AI goes poorly: mass layoffs

Truly the best system

[–] Joeffect@lemmy.world 2 points 3 days ago

Yeah well, what's the best way to improve profits for next quarter that both of these things share?

That's right! You have to pay people to work for you...

Welcome to chasing the profit

[–] QProphecy@lemmy.world 51 points 4 days ago (1 children)
[–] hammertime@lemmy.org 7 points 4 days ago (2 children)
[–] raicon@lemmy.world 32 points 4 days ago (2 children)
[–] hammertime@lemmy.org 5 points 4 days ago (1 children)

Ohhhh… well, probably not a pop but a slow deflation down to a more reasonable size.

[–] marcos@lemmy.world 9 points 4 days ago* (last edited 4 days ago)

Once a bubble is inflated, it never deflates slowly. You can inflate everything else. But the only way a bubble reduces is by popping.

That said, I don't think it's happening right now.

[–] nixfreak@sopuli.xyz 0 points 4 days ago (2 children)

Yeah 20% of US GDP is in a.i. datacenters , this should be interesting.

[–] hammertime@lemmy.org 4 points 4 days ago

That’s just blatantly false. A pants on fire lie.

[–] RagingRobot@lemmy.world 1 points 3 days ago

If it crashes maybe the interest rates will drop and normal people can buy things again

[–] Formfiller@lemmy.world 5 points 3 days ago (1 children)

Yeah, same here. this honestly, truth nuke

[–] Brkdncr@lemmy.world 21 points 4 days ago

Article is from Feb 2 FYI.

[–] kittykillinit@lemy.lol 5 points 3 days ago (1 children)

No sympathy for people who work for oracle/blizzard/ea/etc.

They deserve all the abuse they get.

[–] maplesaga@lemmy.world 3 points 3 days ago* (last edited 3 days ago) (1 children)

People just want jobs man, lifes hard enough without restricting yourself to "ethical" corportions which dont exist.

That's the mentality that gets people to become prison guards and ice agents. There are plenty of jobs out there, nobody needs to work for these scum companies.

[–] CharlesDarwin@lemmy.world 11 points 4 days ago

Oh fuck. This is going to really, really hurt.

And for people that might be gloating about it: it's likely to hurt the very most for the people not in the upper 1% of 1%.

[–] abbadon420@sh.itjust.works 6 points 4 days ago (2 children)
[–] comador@lemmy.world 21 points 4 days ago (1 children)

Don't feel bad for that Java, it was never a good Java... OpenJDK is the Good Java.

[–] abbadon420@sh.itjust.works 2 points 4 days ago (2 children)

Agreed, but they do contibute a lot to the community

[–] CharlesDarwin@lemmy.world 5 points 4 days ago

Yeah, quite a bit of really good optimizations and stability were done by Sun, now Oracle. The GraalVM stuff is especially interesting...

I'm no fan of Ellison or Oracle; I wish Sun was not acquired by Oracle. Ellison being Ellison, they really really tried to monetize Java the language/platform for some reason.

[–] mp3@lemmy.ca 3 points 4 days ago

But at the cost of having Oracle having its mierdas touch

[–] LedgeDrop@lemmy.zip 1 points 4 days ago (1 children)
[–] Ironfist79@lemmy.world 2 points 2 days ago

Use MariaDB instead.