Tech companies are cutting thousands of jobs as AI reshapes the industry, with layoffs reaching near-record highs. Oracle cut 21,000 jobs, Microsoft 4,800, and Cisco 4,000, reflecting a shift from labor to AI-driven automation and infrastructure investment. This trend shows AI reducing workforce needs either directly or by reallocating capital, though some layoffs may be framed as AI transformations for investor appeal. The key for investors is whether these labor cuts lead to sustainable growth or just cost-cutting.
This week, the key market event is the August Consumer Price Index (CPI) report, which could influence the Federal Reserve's decision on a rate hike in September. Economists expect a moderate rise in inflation, with core inflation slightly easing. St...
Oracle's stock has stabilized above $120, defying bearish expectations amid a broader software sector recovery. The company's $638 billion Remaining Performance Obligations (RPO), closely linked to OpenAI, support confidence in future revenue and AI ...
Oracle reported strong fiscal 2026 results with 17% revenue growth to $67 billion and a 36% net income increase, driven by a 75% surge in its cloud infrastructure segment. Despite a recent 55% stock price drop from its peak, Morgan Stanley raised Ora...
Oracle expects its quarterly revenue to grow between 27% and 29%, fueled by rising demand for cloud services and AI infrastructure. The company delivered 1.2 gigawatts of cloud capacity in fiscal 2026 and targets one gigawatt in the first quarter, wi...
Crusoe, a data center developer serving clients like Meta, Microsoft, and OpenAI, raised $3 billion at a $30 billion valuation. The funding round was co-led by Atreides Management and Valor Equity Partners, with Mubadala Capital also participating. C...
