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05.11.26 - 15:30
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Google Joins The Surge Of Tech Layoffs (24/7 Wall St.)
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Microsoft (NASDAQ: MSFT) recently offered buyouts to 60,000 employees. It is unclear what the company will do if fewer than 60,000 employees take it. Earlier this year, Meta's (NASDAQ: META) CEO Mark Zuckerberg planned to cut 45,000 people, which would have been 60% of the company's workers. He walked it back. Oracle recently cut 21,000 […]...
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04.11.26 - 18:45
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Oracle Kills $7BN Tencent AI Chip Deal Under Trump Pressure (ZeroHedge)
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Oracle Kills $7BN Tencent AI Chip Deal Under Trump Pressure
Trump administration officials went to Oracle with concerns about its chip leasing contract with Tencent, and the deal has since been cancelled, two people familiar with the matter told the Financial Times.The five-year lease, worth an estimated $7 billion, would have given the Chinese tech giant access to as many as 100,000 advanced AI chips across a string of Oracle data centers in Southeast Asia, chips it can't use at home because of curbs from both Washington and Beijing. It was Tencent's largest overseas leasing deal. Top officials in Guangdong, where Tencent is based, also visited the company and asked it to back domestic Chinese chips, according to one of the people.Overseas leasing deals like this one are allowed under existing rules, as the FT notes, so no regulation forced Oracle's hand. The contract was cancelled after officials raised their concerns with a company led by billionaire Trump backer Larry Ellison.The cancel...
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