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110,000 layoffs, $725 billion in AI: the paradox that defines 2026

On June 22, 2026, Oracle revealed it had cut 21,000 people over 12 months. The same week, analysts calculated that Microsoft, Amazon, Meta, and Google will spend $725 billion on AI this year. The industry is laying off 864 devs a day while investing $370 million a day in data centers. The money has to come from somewhere — and it's coming from payroll.