smegMar 8

Banks are backing out of funding AI data centers. They no longer believe the promise of future AI gains. But grifters are too deep to back out.

Oracle Layoffs: Tech giant to slash 30,000 jobs as banks pull out from financing AI data centres
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 #ai #fuckai #stopai #aidatacenters #datacenters

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
Show threadThomas Dorr

@smeg
There is no cut deep enough to fund their BS.

They are just performing development of #aislop while they get the benefit of cutting and renegotiation of labor.

I bet they're not cutting from the top down.

Mar 8 at 12:51pmFedilab
Show threadsmegMar 8

@thomasdorr they never do.

I once worked somewhere that said they were laying off "20% of payroll" but it turns out it was nearly 30% of staff. How? Got rid of engineers and ICs, kept all execs and management. There were multiples of this: 1 VP with 1 Director report with 1 Manager report with 1 IC report. It took 3 people to manage that 1 engineer.
Sometimes had execs reporting to other execs with no actual teams.

Show threadThomas DorrMar 8

@smeg
It is amazing how that is "valuable" for the investors.

I think all sectors have this, I'm in education, and watching leadership try adding at the top and cut at the bottom... It just makes for intriguing discussion on how to improve.