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via finance.yahoo.comBusiness & Companies

Oracle cancels $7 billion chip leasing deal with Tencent, FT reports

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com-- Oracle has scuttled a $7 billion chip leasing contract with Tencent amid increased pressure from the Trump administration, the Financial Times reported on Wednesday. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishCancelling a $7 billion contract weighs on Oracle and signals US-China tension over AI chips.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01According to the Financial Times, Oracle cancelled a $7 billion chip leasing contract with Tencent.
  2. 02The five-year lease granted Tencent access to as many as 100,000 AI chips in southeast Asian data centers.
  3. 03The cancellation followed concerns from US officials, and Beijing asked Tencent to seek domestic chips.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Oracle CorporationORCLStock126.21 USDMarket closedtoday +5.86%Negative Tencent Holdings Limited0700.HKStock401.60 HKD0.00%today +1.11%Neutral NVIDIA CorporationNVDAStock206.69 USDMarket closedtoday +2.29%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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