Oracle’s shift to AI technologies has led to significant job cuts, with the company reducing its workforce by 12.9% in the past year, affecting 21,000 workers. The move is part of Oracle’s efforts to expand its cloud infrastructure and support AI workloads for major clients. The company plans to raise $45-50 billion in funding, with half coming from debt, to support its AI initiatives. This major investment in AI is a significant gamble for Oracle, and its success will be crucial in determining the company’s future. Why it matters: Oracle’s massive investment in AI and subsequent layoffs underscore the profound impact of automation on the tech industry workforce, as companies increasingly rely on AI to drive growth and competitiveness.