Oracle cancels $7B Tencent AI chip lease under US pressure, FT reports
The chip lease, valued at approximately $7 billion, was scrapped after US officials raised concerns with Oracle about the arrangement. The Financial Times reported that the Trump administration pressured Oracle into the cancellation, citing sources familiar with the matter. This move reflects heightened scrutiny of tech deals between US and Chinese companies.
Key points
- Oracle terminated $7B Tencent chip lease after US government pressure
- Trump administration officials expressed concerns about the deal
- Reflects escalating US-China technology restrictions
Summary and key points written by AI from the headline and a short excerpt, so they can be incomplete or wrong. The Next Web did the reporting; read the original for the full story.
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