$300B Oracle Corporation–OpenAI deal strains bank limits; up to 30,000 layoffs reported

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Oracle Corporation is reportedly facing difficulties securing financing for its data center expansion, crucial for a $300 billion agreement with OpenAI, due to US banks reaching internal exposure limits. While Oracle plans to raise $50 billion through stock and bond offerings, analysts suggest an additional $100 billion might be needed. The company has also begun workforce reductions, with projections of up to 30,000 layoffs.

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