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via finance.yahoo.comTech & AI

Oracle's $7 billion AI chip deal with Tencent collapses after US intervention

FROM THE WIRE · FINANCE.YAHOO.COM

This article first appeared on GuruFocus. Oracle Corp. (ORCL, Financials) has terminated a $7 billion contract to lease artificial intelligence chips to Tencent over U.S. officials' worries over Chinese access to sophisticated computer technologies, a report said.The deal would…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishCancelling a large AI cloud chip contract may reduce Oracle's contracted revenue.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Oracle terminated a $7 billion contract to lease AI chips to Tencent.
  2. 02The deal would have given Tencent access to about 100,000 high-end AI processors.
  3. 03Oracle reportedly dropped the deal after being asked by US officials.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Oracle CorporationORCLStock126.30 USD+0.41%today +0.09%Negative 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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