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via finance.yahoo.comBusiness & Companies

Oracle scraps $7 billion AI chip leasing deal with Tencent after US pressure

FROM THE WIRE · FINANCE.YAHOO.COM

Oracle (NYSE:ORCL) reportedly cancelled a planned US$7b AI chip leasing agreement with Tencent after increased U.S. government pressure. The shelved arrangement involved providing Nvidia processors to Tencent through Oracle's cloud infrastructure for Chinese AI workloads.…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishCancelling the AI chip cloud deal may weigh on Oracle and on Nvidia processor demand tied to China.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Oracle reportedly cancelled a planned $7 billion AI chip leasing agreement with Tencent.
  2. 02The arrangement involved providing Nvidia processors through Oracle's cloud infrastructure.
  3. 03Deloitte announced a unified Oracle business group covering consulting, implementation and managed services.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Oracle CorporationORCLStock126.49 USD+1.66%today +0.24%Negative NVIDIA CorporationNVDAStock203.34 USD+0.38%today -1.62%Neutral Tencent Holdings Limited0700.HKStock401.60 HKDMarket closedtoday +1.11%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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