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Oracle scrapped a US$7 billion deal to lease 100,000 advanced AI chips to Tencent after bowing to pressure from the Trump administration, the Financial Times reported on Wednesday (Nov 4). The contract covered a five-year lease across multiple Oracle data centres in South-east Asia.
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Summary by ByteBrief
Oracle Cancels $7 Billion Tencent AI Deal
Filings: Oracle is selling $10B in common stock and $10B in bonds, as it rushes to line up financing to pay for its data center buildout; ORCL falls 5%+ (Kelly Cloonan/Wall Street Journal)
Sources: Nvidia verbally told cloud compute clients to sell 51%+ of their services to non-Chinese companies, imposing new limits on China's access to AI chips (Financial Times)