Mastodawn

You know how a gambler who loses it all starts begging his family for cash or putting their house up for a loan? We all know that story usually has a "happy" ending. Right?

Well, SoftBank is basically doing the same thing. They are talking to banks to get a massive $40 billion loan just to buy a stake in OpenAI. It is their biggest loan ever. I’m sure betting the house on a single hand will work out perfectly this time. https://www.livemint.com/companies/news/softbank-seeks-record-40-billion-loan-financing-banks-fund-openai-stake-invest-masayoshi-son-ai-bubble-concern-liquidity-11772773618772.html

These AI people are running out of money

$40 billion loan: SoftBank seeks record financing to fund OpenAI investment — Here's what we know

SoftBank is in talks with lenders for a record $40 billion loan to finance its OpenAI stake purchase — its largest dollar-denominated borrowing yet. Here's what we know amid liquidity and AI concerns.

mint

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nixCraft 🐧Mar 7

Meanwhile BlackRock the biggest fund manager in world, started fund limits withdrawals as redemptions rattle private credit. Can you guess industry names that are using private credit (hint AI startups) ? https://www.reuters.com/business/blackrock-limits-withdrawals-private-credit-fund-redemptions-mount-2026-03-06/

Blackrock said on Friday it has limited withdrawals from a flagship debt fund after a surge in redemption requests, as investor worries mount around the $2 trillion private credit industry that giving loans to AI and software industry mostly.

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nixCraft 🐧Mar 7

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. So Oracle is now firing 30000 engineers as banks pull out from financing AI data centres and OpenAI deals to meet fools dream. Wise investors are pulling out of data centres now as they found out it's impossible to reach AGI & exponential AI growth through increasing the scale of compute. LLMs have already hit their developmental plateau https://www.livemint.com/companies/news/oracle-layoffs-tech-giant-to-slash-30-000-jobs-as-banks-pull-out-from-financing-ai-data-centres-11769996619410.html

Oracle Layoffs: Tech giant to slash 30,000 jobs as banks pull out from financing AI data centres

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.

mint

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Michael Simons Mar 7

@nixCraft @infosec812 Ed was right

https://www.wheresyoured.at/haters-guide-oracle/

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Knut 🏳️‍🌈 🇳🇴🧸

@rotnroll666 @nixCraft @infosec812 I'm in Abilene, TX where Stargate is being built. And there are TONS of jobs. But they're slave jobs - 12 hour days 6 days a week at $25/hr on a 1099. And Oracle is very well known for not paying their contractors in a timely manner. I've heard some contractors are 60 days out in aged payments from Oracle.