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

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.

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
What does Oracle even do?

They used to sell a pretty good (if complex) database system. However it hasn’t been popular for many years. I assume they still have big customers who are locked in.

These days they’re just another amorphous “cloud service provider”, and not a good one either.

It hasn’t been popular? I guess you mean “cool” or “trendy” but well more than half of enterprise applications work on oracle, closer to 75% in fact.

Yes, plenty of companies are exiting oracle but it will still dominate for at least a decade. Sometimes there’s just no good equivalent, and no, Postgres cannot compare even tho it’s a great DB for many use cases.