genai / news / / International Business Times
Oracle reported stronger-than-expected third-quarter revenue.
Oracle will invest $50 billion in new data centers this fiscal year, nearly doubling last year’s spend.
KEY POINTS
- The company plans significant workforce reductions and a cloud division hiring freeze due to AI efficiencies.
- Oracle reported a negative free cash flow of -$24.7 billion last quarter, with negative flow expected until 2030.
- AI-generated code has enabled Oracle to restructure development teams into smaller, more productive groups.
COMPANIES
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