AI bet goes awry: Oracle fires 21,000 employees

Jul 23, 2026 3:35 pm | JPost BizTech, Technology

Larry Ellison, Co-Founder and Chief Technology Officer of Oracle (photo credit: GettyImages/Andrew Harnik)
Oracle 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.
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