After over 20K layoffs, how Oracle's 'promise' to Sam Altman is hurting banks across US

Oracle faces a significant bank-debt challenge due to its massive data centre expansion for OpenAI, reportedly requiring $300 billion. Lenders struggle with exposure limits, impacting their ability to finance these projects. This comes as Oracle also plans substantial job cuts, highlighting financial pressures despite efforts to secure funding.

By TOI TECH DESK