Oracle plans to cut up to 18% of its workforce. This move aims to reduce costs and fund AI infrastructure. The company canceled a major AI data center expansion in Texas. This project was planned with OpenAI. Oracle is reassessing its AI capital needs and operational priorities.
https://simplywall.st/stocks/us/software/nyse-orcl/oracle/news/oracle-resets-ai-ambitions-with-layoffs-and-canceled-texas-d