Oracle Cancels $7 Billion AI Chip-Leasing Deal with Tencent

Oracle canceled a reported five-year, $7 billion deal to provide Tencent access to about 100,000 advanced AI chips in Southeast Asian data centers. The cancellation reportedly followed U.S. administration pressure over supplying advanced AI technology to Chinese companies, limiting Tencent’s access to the hardware for overseas operations and underscoring regulatory tensions for U.S. cloud providers serving Chinese AI firms.