Oracle cuts 30,000 jobs, funding $500 billion Stargate AI partnership

Oracle is laying off up to 30,000 employees across its sales, engineering, and security departments. The company is redirecting this capital toward significant artificial intelligence infrastructure investments.

These cost savings will fund Oracle’s commitment to the $500 billion Stargate AI datacenter partnership. This project involves a collaboration with OpenAI and SoftBank.

The workforce reduction occurs during a broader market sell-off in the technology sector. Investors remain skeptical about whether massive AI hardware spending will generate proportional profits.