posted in Technology
AI bet goes awry: Oracle fires 21,000 employees
www.jpost.com/business-and-innovation/tech-and-start-ups/article-903442
The Jerusalem Post | JPost.comAI bet goes awry: Oracle fires 21,000 employees | The Jerusalem PostOracle 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.
Replying to @sanitation@lemmy.today
Imagine failing this hard at your job and keeping it.
And I know his job is to keep the stock price high… but 28 percent growth over the last five years in tech is still failing at your job.
Replying to @Kurtismayfield@lemmy.zip
“Double digit YoY or get out. Doesn’t matter how many people you have to fire or how hard to exploit the ones you keep. Double digit or GTFO.” -Shareholders
Replying to @Kurtismayfield@lemmy.zip
Besides the usual CEO shenanigans, they really want AI to succeed, to replace usually leftist intellectuals with a far-right AI.
Replying to @ZILtoid1991@lemmy.world
I want cold fusion, cancer to be cured for 1 dollar, and flying ponies. But I know I’m not getting those.
They aren’t going to get true AI either.