Bloomberg reports Oracle is planning to cut thousands of jobs to handle the costs of expanding their AI data centers. Some cuts are also targeting roles they think AI can replace. The layoffs could start this month and are expected to be broader than usual. They are also slowing down hiring in the cloud unit. Basically, they are spending heavily to compete with Amazon and Microsoft. Analysts think the costs could push cash flow negative until 2030. Oracle mentioned last month they might raise $50 billion to pay for the expansion.