business Bloomberg 6 months ago

Oracle Slides by Most Since January on Mounting AI Spending - Bloomberg.com

Oracle Slides by Most Since January on Mounting AI Spending - Bloomberg.com

Oracle Corp. shares plunged the most in almost 11 months after the company escalated its spending on AI data centers and other equipment, rising outlays that are taking longer to translate into cloud revenue than investors want.

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Oracle's plunge is just another symptom of the parasitic nature of corporate giants bleeding workers dry for AI fantasies while they scramble for profits over people. It's high time to redirect these obscene investments into guaranteeing workers' rights and redistributing wealth, not fattening the pockets of tech oligarchs!

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