In a third-quarter earnings report on Tuesday, tech giant Oracle announced quarterly revenue growth above expectations and an increased sales outlook for the next fiscal year, along with a downsizing of some of its teams.
The stated reason why, as has become somewhat customary in Silicon Valley at this point, was artificial intelligence.
“AI models for generating computer code have become so efficient that we have been restructuring our product development teams into smaller, more agile and productive groups,” the company shared in the press release. “This new AI Code Generation technology is enabling us to build more software in less time with fewer people.”
Oracle’s stock has been battered recently, tanking more than 50% since a September peak that happened following the announcement of more data center plans with OpenAI under Stargate. Although Oracle shares once hit highs so grand on the coattails of the AI trade that it briefly turned its chairman Larry Ellison into the richest man on Earth, the culprit driving the drop is also artificial intelligence. Wall Street fears the impact AI will have on Oracle, whichever way demand for the technology may grow.
One aspect of that is the billions upon billions of dollars Oracle is committing to a major data center buildout. Just this fiscal year, the company is looking to spend $50 billion, roughly double what it spent a year earlier.
But with delays hitting some of these data center projects and the company’s increased reliance on debt markets, experts grew uneasy about Oracle’s ability to live up to its hefty commitments.
Meanwhile, the financial commitments have turned the company’s free cash flow negative. This past quarter, free cash flow sank to negative $24,736. Experts predict it will stay negative until 2030.
In a crunch for cash, company executives have begun planning thousands of job cuts across the company, starting as early as this month, according to a Bloomberg report from last week, including effectively freezing hiring in its cloud division.
Oracle is a bellwether for market confidence in AI, and the free cash flow question quickly infected other major players in the industry. AI hyperscalers Amazon, Alphabet, Meta, and Microsoft all reported eyewatering capex figures in earnings reports last month, sparking a fear that the spending is accelerating rapidly while actual returns from AI adoption fail to materialize. Those fears added to the growing AI bubble discussion, even pushing Nvidia CEO Jensen Huang to spend a good chunk of his company’s earnings call assuring investors that the hyperscalers (who are also incidentally Nvidia’s top customers) will see cash flow growing as more spending translates to revenue.
Oracle’s earnings beat, along with improved sales guidance for 2027, are important for convincing investors that demand for AI will continue to outpace supply. That, combined with the assurance that AI is raising productivity in the company, could help Oracle quell some of those fears around the future of both the company and the AI trade.
The other side of the AI impact coin is if AI becomes too powerful and makes software companies obsolete, in a feared “SaaSpocalypse.” Last month, on the heels of Anthropic’s Claude Cowork release and a Substack scenario outlining this possibility, investors began selling software provider stocks in a frenzy. Oracle was one of the software stocks impacted, but executives took to the earnings call on Tuesday to convince investors that their company was an exception.
“The use of AI-coding tools inside Oracle is enabling smaller engineering teams to deliver more complete solutions to our customers more quickly. We are building brand-new SaaS products using AI and also embedding AI agents right into our existing applications and suites,” co-CEO Mike Sicilia told investors. “Yes, some smaller or single-focus SaaS players may well be disrupted, but Oracle will not be among them.”
With regard to either story, investors may have been satisfied enough for now with Oracle’s response on Tuesday, as the stock rose more than 8% following the release.
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![Masochistic YouTuber Punishes Himself by Writing a First Person Shooter Entirely in COBOL
So: masochism. You might know that it takes its name from 19th-century Austrian nobleman and writer Leopold Ritter von Sacher-Masoch—and specifically from the content of his famous work, Venus in Furs, which catalogued the narrator’s submissive nature and fondness for experiencing pain and humiliation. Masoch himself was apparently not amused by the fact that his name became attached to such predilections—probably fair, given that the term was first used in a book entitled Psychopathia Sexualis, which also pioneered negging by speculating that Masoch himself “would have achieved real greatness had he been actuated by normally sexual feelings.” Happily, modern attitudes to the “S” part of BDSM are significantly more enlightened than they were in the 1880s and 1890s. In entirely unrelated news, a YouTuber by the name of icitry—whose bio on the site reads simply “try now, suffer later”—has written a whole first-person shooter in freaking COBOL. If you’ve never had to deal with COBOL, well, good for you, and you should probably keep it that way. The language is amongst the oldest computer languages, and was developed in the 1960s for managing business mainframes. It’s probably what drove poor Ginsberg in Mad Men out of his mind. COBOL remains in use today, largely in such legacy mainframes and other places where it’s not feasible to replace existing systems that, for all their foibles, still work.
One purpose for which it absolutely does not remain in use—and, in fact, has never been used—is programming first-person shooters. So why in the name of all that is good and holy would anyone do this to themselves? [embed]https://www.youtube.com/watch?v=qzpZQe7JT-o[/embed] In his video, icitry explains that the project started with him wondering, “What’s the dumbest but still technically possible language for writing a small FPS style game?” The answer was, yes, COBOL, and because the laws of the universe dictate that anything that can happen must happen, icitry got to work. Long, painstaking, tedious hours of work.
As he points out, COBOL is “old, verbose, missing most features even the shittiest modern languages have … and is definitely not created for game development.” All of this is true, although in fairness to COBOL, it was created at a time when people were still figuring out how programming should work and what a programming language should aim to be. Its earliest standard predated the idea of structured programming, although it soon attracted criticism from advocates of that concept— Edsger Dijkstra, in particular, famously hated the language and said its use “cripples the mind.” To modern eyes, just trying to parse a COBOL program is enough to induce a headache, let alone trying to write a game in it—but, miraculously, icitry manages to get his Wolfenstein 3D-esque project to work. He dodges COBOL’s complete lack of graphical functions by basically treating the game as what he calls a “frame generator”: his code computes the contents of each frame and uses a standard output function to write the results into a simple image format. This is rendered by ffplay—which, yes, is probably cheating, but not even old Leopold would try to write an entire graphics API from scratch in COBOL.
Elsewhere, icitry dodges COBOL’s lack of input management by using the console to input single characters to his game. He doesn’t so much dodge COBOL’s lack of any vector math functions—which are kind of important for a game where the entire gameplay loop revolves around calculating and manipulating 2D movement vectors—as he does just work around them by kinda writing them himself. And then, as if this wasn’t all enough self-punishment, he goes the extra mile by implementing DOOM engine functions like variable ceiling height. The whole project is a testament to mankind’s ingenuity, resourcefulness, and ability to withstand all manner of self-inflicted punishment. Watching the game run, you’d never guess it was written in a language so manifestly unsuited for the task at hand. Still! At least it’s not FORTRAN, right? Right?? *smash cut to an Austrian aristocrat at his desk with a copy of The Fortran Automatic Coding System for the IBM 704 and the DOOM source code* #Masochistic #YouTuber #Punishes #Writing #Person #Shooter #COBOLCOBOL,Doom,Wolfenstein 3D Masochistic YouTuber Punishes Himself by Writing a First Person Shooter Entirely in COBOL
So: masochism. You might know that it takes its name from 19th-century Austrian nobleman and writer Leopold Ritter von Sacher-Masoch—and specifically from the content of his famous work, Venus in Furs, which catalogued the narrator’s submissive nature and fondness for experiencing pain and humiliation. Masoch himself was apparently not amused by the fact that his name became attached to such predilections—probably fair, given that the term was first used in a book entitled Psychopathia Sexualis, which also pioneered negging by speculating that Masoch himself “would have achieved real greatness had he been actuated by normally sexual feelings.” Happily, modern attitudes to the “S” part of BDSM are significantly more enlightened than they were in the 1880s and 1890s. In entirely unrelated news, a YouTuber by the name of icitry—whose bio on the site reads simply “try now, suffer later”—has written a whole first-person shooter in freaking COBOL. If you’ve never had to deal with COBOL, well, good for you, and you should probably keep it that way. The language is amongst the oldest computer languages, and was developed in the 1960s for managing business mainframes. It’s probably what drove poor Ginsberg in Mad Men out of his mind. COBOL remains in use today, largely in such legacy mainframes and other places where it’s not feasible to replace existing systems that, for all their foibles, still work.
One purpose for which it absolutely does not remain in use—and, in fact, has never been used—is programming first-person shooters. So why in the name of all that is good and holy would anyone do this to themselves? [embed]https://www.youtube.com/watch?v=qzpZQe7JT-o[/embed] In his video, icitry explains that the project started with him wondering, “What’s the dumbest but still technically possible language for writing a small FPS style game?” The answer was, yes, COBOL, and because the laws of the universe dictate that anything that can happen must happen, icitry got to work. Long, painstaking, tedious hours of work.
As he points out, COBOL is “old, verbose, missing most features even the shittiest modern languages have … and is definitely not created for game development.” All of this is true, although in fairness to COBOL, it was created at a time when people were still figuring out how programming should work and what a programming language should aim to be. Its earliest standard predated the idea of structured programming, although it soon attracted criticism from advocates of that concept— Edsger Dijkstra, in particular, famously hated the language and said its use “cripples the mind.” To modern eyes, just trying to parse a COBOL program is enough to induce a headache, let alone trying to write a game in it—but, miraculously, icitry manages to get his Wolfenstein 3D-esque project to work. He dodges COBOL’s complete lack of graphical functions by basically treating the game as what he calls a “frame generator”: his code computes the contents of each frame and uses a standard output function to write the results into a simple image format. This is rendered by ffplay—which, yes, is probably cheating, but not even old Leopold would try to write an entire graphics API from scratch in COBOL.
Elsewhere, icitry dodges COBOL’s lack of input management by using the console to input single characters to his game. He doesn’t so much dodge COBOL’s lack of any vector math functions—which are kind of important for a game where the entire gameplay loop revolves around calculating and manipulating 2D movement vectors—as he does just work around them by kinda writing them himself. And then, as if this wasn’t all enough self-punishment, he goes the extra mile by implementing DOOM engine functions like variable ceiling height. The whole project is a testament to mankind’s ingenuity, resourcefulness, and ability to withstand all manner of self-inflicted punishment. Watching the game run, you’d never guess it was written in a language so manifestly unsuited for the task at hand. Still! At least it’s not FORTRAN, right? Right?? *smash cut to an Austrian aristocrat at his desk with a copy of The Fortran Automatic Coding System for the IBM 704 and the DOOM source code* #Masochistic #YouTuber #Punishes #Writing #Person #Shooter #COBOLCOBOL,Doom,Wolfenstein 3D](https://gizmodo.com/app/uploads/2026/06/cobol-fps-1280x853.png)

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