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via seekingalpha.comTech & AI

Oracle cancels $7B AI chip lease with Tencent amid US concerns: FT

FROM THE WIRE · SEEKINGALPHA.COM

[Oracle Corporate Office Building in Brisbane, Australia] mtcurado * Oracle (ORCL [https://seekingalpha.com/symbol/ORCL]) has scrapped a multibillion-dollar chip leasing contract with Tencent (TCEHY) after bowing to pressure from the Trump administration, the _Financial Times_…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishCancelling a large AI contract from a tech giant can weigh on Oracle and the AI chip sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Oracle scrapped a roughly $7 billion chip leasing deal with Tencent, the Financial Times reported.
  2. 02The move followed pressure from the Trump administration.
  3. 03The deal gave Tencent access to about 100,000 advanced AI chips not available in China.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Oracle CorporationORCLStock126.21 USDMarket closedtoday +5.86%Negative Tencent Holdings LimitedTCEHYStock50.42 USDMarket closedtoday +0.32%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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