Oracle Undertakes Massive Layoffs Amid AI Infrastructure Buildout

Oracle is undergoing another massive round of layoffs, with thousands of employees reportedly affected. The cuts come as the company and other tech giants look to offset the costs of building out infrastructure for AI technology. Oracle's shares were up 6% despite the news, but have lost 25% of their value since the start of the year. The layoffs are the latest in a string of job cuts in the tech industry as companies anticipate the impact of AI on their workforce.