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Oracle Cuts Jobs to Fund AI Data Centers
Oracle is cutting 20,000 to 30,000 jobs. That is about 18% of its workers.
The company wants to spend more on AI data centers. Oracle has promised $50 billion for AI building in 2026.
The job cuts free up money for that spending. Oracle's stock fell up to 1.5% after the news. Its stock is also down 25% this year.
Klear Note — Data centers are buildings that store and run computer servers. AI data centers are very expensive to build and operate. Companies cut costs elsewhere to fund major tech investments.
Key Terms 2
- AI data centers
- large buildings full of computers that run AI programs
- stock
- shares of a company that people can buy or sell