Oracle provider Switchboard has announced it is ceasing operations, with core developer Switchboard Technology Labs winding down remaining business activities. All Switchboard implementations are no longer maintained effective immediately, and residual support will terminate on September 25. Protocols currently utilizing the service have been instructed to migrate immediately to alternatives such as Pyth or RedStone. Switchboard attributed the shutdown to structural shifts in the oracle market, noting that AI has significantly reduced the cost of building proprietary oracles while the crypto bear market decreased new chain launches and project budgets. The team also highlighted a growing trend of protocols partnering directly with data providers like S&P and Hyperliquid, a model that increasingly undermines the value proposition of third-party oracle networks.