Oracle 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.
$7 billion required collateral. , $100 million annually, $15 billion
Oracle’s argument of “this investment is worth $15 billion” is not only entirely besides the point, which the regulating government office rightfully refuses, but "‘worth’ in your state or city is entirely pointless if it incurs not that amount of local public gain but only public cost. It’s a stupid, misleading argument.
I’m really interested in what that 21k employee loss mean in practice. In a hype-craze it’s probably not sane restructuring and letting go of unneeded personal and inefficiencies, I assume.
Sane regulation. You like to see it.
$7 billion required collateral. , $100 million annually, $15 billion
Oracle’s argument of “this investment is worth $15 billion” is not only entirely besides the point, which the regulating government office rightfully refuses, but "‘worth’ in your state or city is entirely pointless if it incurs not that amount of local public gain but only public cost. It’s a stupid, misleading argument.
I’m really interested in what that 21k employee loss mean in practice. In a hype-craze it’s probably not sane restructuring and letting go of unneeded personal and inefficiencies, I assume.