Oracle reportedly calls off $7 billion AI chip deal with Tencent
FROM THE WIRE · FINANCE.YAHOO.COM
This article first appeared on GuruFocus. Oracle Corp. (ORCL, Financials) has allegedly called off a $7 billion deal to lease artificial intelligence chips to Tencent, causing Wedbush Securities to look at political constraints underlying the move.The five-year arrangement would…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA reported cancellation of a large cloud and AI contract weighs on Oracle's revenue outlook amid political risks.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Oracle has reportedly called off a five-year $7 billion deal with Tencent.
- 02The arrangement would have given Tencent access to about 100,000 AI chips in Southeast Asia.
- 03Wedbush says political concerns from U.S. officials may explain the cancellation.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Oracle Corporation115.50 USD+0.67%today -6.65%Negative Tencent Holdings Limited430.40 HKDMarket closedtoday +7.17%Neutral Tencent Holdings Limited53.88 USD+0.17%today +2.90%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets