Oracle (NYSE:ORCL) looked like it was destined to be the next $1 trillion company last year before things made an abrupt turn. The stock has nearly halved since then, with the market cap now below $470 billion.

Over the past few weeks, several US banks have pulled off from lending to Oracle for expanding its AI data centres, as per a report.

In yet another wave of layoffs, Oracle is reportedly planning to cut around 30,000 jobs. According to the reports, the company might also sell its healthcare software, Cerner to fund in-house AI data-centre.

Oracle is reportedly planning layoffs of up to 30,000 employees as it faces funding pressure to expand AI data centres, with banks pulling back on financing.

Oracle (NASDAQ:ORCL) has already been punished harshly by the market, thanks to its heavy debt load and OpenAI exposure. That said, the punishment just seems to keep coming for the fast mover in AI data centers.

Oracle remains a high-risk, high-potential-reward artificial intelligence stock.

Oracle reportedly plans to cut 20,000 to 30,000 jobs globally to focus on AI data centres. Here's who gets impacted by the development.

Oracle may cut up to 30,000 jobs as it looks to fund aggressive AI data centre expansion and manage mounting cloud infrastructure costs.

The Oracle/TikTok partnership has since been formalized through the establishment of the TikTok USDS Joint Venture LLC, which was finalized last week, enabling continued operations in the country with TikTok hosted on the Oracle cloud platform. Oracle is a 15 percent owner.

Oracle expects to raise $45 billion to $50 billion in 2026 to build additional capacity for its cloud infrastructure.