Oracle

Microsoft is offering laid-off US employees up to 39 weeks of base pay as severance, with variations based on seniority and tenure. The company announced plans to lay off around 4,800 employees, primarily affecting sales and Xbox gaming teams.

Governor Brian Kemp met with OpenAI and Georgia Power in Atlanta to discuss the company's business plans, including potential data center projects and economic development in Georgia. OpenAI's representatives included leaders in site readiness and development, while the meeting's details remain unclear. The state has an Office of Artificial Intelligence and OpenAI is involved in a national data center project with Oracle and SoftBank.

Residents of Lima Township, Michigan, successfully halted a proposed 1.4-gigawatt power plant on farmland after weeks of protest. The project, initially discovered by Ken Klovski due to drilling activity, was denied by Consumers Energy representatives during a public meeting, though community members remained skeptical. The utility company later withdrew the plan.

Xbox’s CEO states the business is 'not healthy' as Microsoft prepares for 3,200 layoffs. The company’s shares have dropped 20% this year, joining peers like Meta and Oracle in using layoffs to offset rising AI development costs.

Companies with federal interests, including Boeing, Lockheed Martin, and Oracle, are sponsoring a Trump-aligned initiative celebrating America’s 250th birthday. The effort is called Freedom 250.

A Michigan-based public pension fund filed a class-action lawsuit against Oracle, alleging the company misled investors about a $25 billion note offering tied to a $300 billion cloud deal with OpenAI. The lawsuit claims Oracle failed to disclose OpenAI's financial struggles, including missed revenue targets and doubts about its ability to pay for cloud services, which allegedly caused the value of the notes to plummet.

Amazon, Oracle, and Intel spent over $2 billion each on severance for layoffs in recent years. Amazon reported $2.7 billion in severance costs, including $1.8 billion for 30,000 layoffs in 2025-2026, while Intel and Oracle each spent $1.8 billion amid workforce reductions.

Asian shares traded mixed as uncertainty over an Iran-US deal and Hormuz Strait access persisted. Oil prices drifted amid U.S.-Iran negotiations in Qatar, while U.S. stocks trimmed losses but faced weakness in AI sector stocks.

Asian shares traded mixed as uncertainty over an Iran-US deal and the Strait of Hormuz's recovery weighed on markets. Japan's Nikkei 225 rose 0.6%, while Australia's S&P/ASX 200 fell 0.4% and South Korea's Kospi dropped 1.8%. Oil prices drifted amid U.S. envoys' talks in Qatar, and U.S. stocks trimmed losses with the S&P 500 up 0.8% despite AI sector volatility.

U.S. stocks reduced their June losses with the S&P 500 up 0.6% and the Nasdaq rising 1.2%, driven by a rebound in AI stocks like Nvidia. However, the S&P 500 is still on track for its first monthly decline in three months, with Oracle dropping nearly 36% for June. A resilient job market report contrasted with weaker-than-expected consumer confidence data.

American technology and companies are being exploited to enable global scams, with AI tools like OpenAI’s ChatGPT and Google’s Gemini used in Southeast Asian scam operations. U.S. internet service providers, including Cogent Communications, Oracle, and AT&T, are involved in carrying traffic from scam centers linked to sanctioned entities in Myanmar. The Federal Trade Commission estimates Americans lost nearly $200 billion to such fraud in 2024.

Oracle will stop maintaining the macOS/x64 port of the Java Development Kit (JDK) starting with JDK 27, expected in September. Apple is also ending support for Intel Macs, with macOS 27 'Golden Gate' being the last version to include Rosetta 2 compatibility. Other platforms like Rust, Python, and Node.js are reducing support for Intel Macs.

Travis Kalanick commutes to his new Austin office by jet ski across Lake Austin. He moved to Texas, joining other tech leaders drawn by lower taxes and a friendlier regulatory environment. Kalanick leads Atoms, a company developing AI-powered robots for industries like food service and logistics.

The Bank for International Settlements (BIS) warns that excessive AI investment, similar to past economic bubbles, could lead to a global recession. Major tech companies like Amazon, Microsoft, and Google are projected to spend over $1 trillion on AI-related capital expenditures in 2026, raising concerns about overinvestment and potential financial vulnerabilities.

Coinbase and Circle have experienced steeper losses compared to Oracle, Netflix, and Salesforce, illustrating the growing disparity between crypto equities and the broader market. The crypto stock slump continues to widen the gap with Big Tech companies.

ServiceNow, Salesforce, and other software stocks surged as the perceived threat from OpenAI weakened. Oracle’s stock did not participate in the rally due to its business ties to OpenAI’s cloud-infrastructure operations.

Oracle's stock had its worst week since the 2001 dot-com bust due to escalating concerns over AI financing. The company's surging spending, negative free cash flow, and $130 billion debt are contributing to the decline.

Oracle's billionaire boss has revealed that 13% of the company's staff were laid off over the last year. The layoffs are described as a significant job slashing effort.

Adrian Boafo won a crowded Democratic primary in Maryland with over $10 million in outside spending from crypto and pro-Israel groups. He defeated Harry Dunn, a former Capitol Police officer endorsed by Nancy Pelosi, in a race for an open congressional seat left vacant by Steny Hoyer's retirement.

Adrian Boafo won Maryland’s 5th District Democratic primary with $11 million in support from pro-Israel and crypto groups, securing Hoyer’s preferred successor. The race highlighted intraparty divisions over outside spending, with rivals and Sen. Chris Van Hollen criticizing the influence of interest groups.

Oracle laid off 741 employees in Seattle over the past year, attributing the cuts to artificial intelligence and the costs associated with its data center buildout.

Oracle attributed 21,000 job cuts to AI in a regulatory filing, highlighting AI's impact on payroll. The article notes that the numbers from Oracle's filing demonstrate how the technology is affecting employment.

Oracle cut 21,000 jobs due to artificial intelligence, as revealed in its annual report. The layoffs represent approximately 13% of the company's workforce.

Alan Greenspan died at 100, with his legacy as a Fed chair rebounding from criticism over the 2008 crash. Current market turmoil in tech stocks, driven by AI spending fears, raises questions about whether the Fed will repeat its historical interventionist policies, known as the 'Greenspan put.'

Oracle announced the layoff of 21,000 employees, reducing its workforce from 162,000 to 141,000 full-time employees by May 31 as part of a major strategy pivot. The job cuts were disclosed in a regulatory filing.

Oracle cut 21,000 jobs related to AI and Al, and an AI trade that previously powered the market turned against it, dragging down the Nasdaq. The article was published by The Rio Times.

Oracle laid off 21,000 employees over the past year, citing AI as one of the reasons. The company's latest filings indicate its workforce decreased from 162,000 to 141,000 employees.

Oracle reduced its global workforce by 21,000 employees over the past year, with restructuring costs rising 391% to $1.8 billion. Layoffs affected departments like Health, Sales, Cloud, and NetSuite as the company invests in AI infrastructure and data centers.

Oracle has laid off 21,000 employees over the past year due to the adoption of AI technologies. The company stated that AI deployment may lead to further workforce reductions. The layoffs are part of a broader trend among tech giants implementing AI-driven workforce changes.

The United States temporarily waived sanctions on Iranian oil exports as part of 60-day peace negotiations, allowing Iran to return to global energy markets. This action aims to impact oil prices amidst ongoing discussions between the two countries.

Over 35 companies, including Meta, Amazon, and Oracle, have announced layoffs in 2026, citing AI-driven efficiency and economic factors. Companies like Angi and Target are reducing staff to cut costs or reallocate resources.

Alan Greenspan, former Federal Reserve Chairman, died at 100 from Parkinson’s complications. He led the Fed from 1987 to 2006, overseeing economic growth but facing criticism for the 2008 financial crisis.

Sam Altman predicts AI will surpass human intelligence by 2030, with rivals like Dario Amodei and Elon Musk forecasting even faster progress. Altman highlights AI's potential to automate significant economic tasks and discusses infrastructure challenges for scaling advanced models.

Oracle has announced shorter-than-expected support timelines for its Oracle Fusion Middleware 12c Release 2, with Premier Support ending in December 2026 and Extended Support in December 2027. The company will offer a fee-based 'Market Driven Support' program post-2027, which critics describe as limited and costly. Oracle also confirmed future versions of its middleware will support IBM's AIX Unix operating system.

Semiconductor stocks surged in mid-2026, with the SOXQ ETF up 99% year-to-date due to AI chip demand. Global semiconductor sales rose 93.9% from April 2025 to April 2026, reaching $110.5 billion, and are projected to hit $1.5 trillion in 2026. Companies like Nvidia, AMD, and TSMC are highlighted as top performers.

Microsoft walked away from a potential $3 billion deal to lease Oracle's cloud infrastructure due to Oracle's refusal to add a security framework for U.S. government data. The failed talks highlight growing competition for cloud computing resources amid the AI boom, with Microsoft now exploring other providers to expand its Azure cloud capacity.

OpenAI and Oracle are constructing a massive data center in New Mexico's Chihuahuan Desert, despite the state experiencing a 200% increase in tree mortality due to drought and insect infestations. The project, Project Jupiter, will span 1,400 acres and use 11 million gallons of non-potable water daily through closed-loop systems, as Oracle shifts from water-intensive turbines to fuel cells to address environmental concerns.

Salesforce has agreed to acquire AI customer support company Fin for $3.6 billion to enhance its Agentforce business. The acquisition aims to expand Salesforce's AI agent capabilities, with Fin's technology handling 76% of support requests without human intervention. The deal is expected to close in Q4 2027 and follows Salesforce's recent strategic moves, including layoffs and other acquisitions.

Michigan's proposed Stargate data center in Saline, funded 90% by private equity firm Blackstone, faces criticism over environmental impacts, resource demands, and Blackstone's history of controversial investments in Michigan, including medical billing fraud and pollution-linked health costs.

The FCC aims to restrict burner phones, Microsoft released a major security update linked to AI bug hunting, and the ShinyHunters ransomware group exploited an Oracle zero-day vulnerability.