Oracle reportedly cancels $7 billion Tencent AI chip lease under US pressure

Oracle has canceled a five-year agreement to lease advanced AI chips to Tencent after pressure from the Trump administration, the Financial Times reported on November 4. The deal, valued at approximately $7 billion, would have given Tencent access to around 100,000 advanced AI chips across Oracle data centers in Southeast Asia.

US officials raised concerns about the arrangement with Oracle, according to the report. Tencent also received visits from senior officials in Guangdong who asked it to support Chinese chips. Reuters said it could not independently verify the report, and Oracle, Tencent and the White House did not respond to its requests for comment. [Reuters]