Oracle plans thousands of job cuts
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Reports of layoffs at Oracle suggest that thousands will be let go this month to free up resources for its AI data center expansion plans.
Oracle Corporation plans mass layoffs affecting thousands of employees to address a cash crunch linked to its AI data center investments. Details here.
Oracle climbed 9% and Microsoft gained 3%. Nvidia and Meta each added more than 2%. Alphabet inched higher. Amazon shares sank slightly. Oracle got a boost from D.A. Davidson 's upgrade on the stock.
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