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.
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.
I think this is two stories being mixed a bit here?
A bit over one month old, the lending issues: https://www.cio.com/article/4125103/oracle-may-slash-up-to-30000-jobs-to-fund-ai-data-center-expansion-as-us-banks-retreat.html
Now, confirmation of the cuts that were suspected since last year from Bloomberg: https://www.reuters.com/business/oracle-plans-thousands-job-cuts-data-center-costs-rise-bloomberg-news-reports-2026-03-05/
I’m not saying there is not a link between the events, but somehow the posted article does a weird rehash mixed with news, and is not even dated, and I don’t like that, so I’m sharing the individual news pieces as separate links for other’s benefit.
This behavior increases enjoyment and utility of the Internet. Thank you!
I see you and raise you a class action for reckless AI spending: https://www.marketwatch.com/press-release/oracle-corporation-orcl-class-action-lawsuit-seeks-recovery-for-investors-april-6-2026-deadline-contact-kessler-topaz-meltzer-check-llp-890e8c24
Thanks for doing the research