Oracle secures Bloom Energy 2.8GW amid March 24 job cuts
Oracle's March 24 job cuts may have affected as many as 30,000 employees, but it's not slowing down on tech upgrades.
The company is doubling down on artificial intelligence by teaming up with Bloom Energy to power its data centers, securing up to 2.8 gigawatts of electricity from fuel-cell systems.
With AI workloads demanding more energy, Oracle already has 1.2 gigawatts lined up for US projects through 2027.
Oracle plans $50B data center investment
Oracle plans to spend $50 billion this year mainly to boost its data center game.
As part of the Bloom Energy deal, Oracle also grabbed the option to buy millions of Bloom shares, a move that sent Bloom's stock soaring and signaled strong investor confidence.
While some are questioning the company's priorities after such major layoffs, Oracle seems all-in on AI and future-proofing its infrastructure.