Oracle's fiscal third-quarter results missed analysts' expectations. The company's cloud infrastructure segment has been booming due to demand for computing power that can support artificial ...

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Oracle stock slipped on Tuesday after a report from The Information that raised questions about the company's plans to buy billions of Nvidia chips to rent as a cloud provider to clients like OpenAI.

Oracle is reportedly planning another round of layoffs this month as it seeks to reduce costs while continuing its aggressive investment in AI infrastructure.

Oracle ( ORCL) has reportedly drawn up plans for a new round of job cuts to reduce payroll as it racks up billions in debt to fund artificial intelligence infrastructure.

CORRECTION & UPDATE—June 11, 2024: This article has been updated to correct Oracle’s net income for the fourth quarter of 2023 and reflect more recent analyst estimates and share price information.