Oracle cancels $7 billion Tencent AI chip lease under Trump administration pressure

Oracle has scrapped a five-year, roughly $7 billion contract to lease about 100,000 advanced AI chips to Tencent across its Southeast Asian data centers after US officials raised concerns about the deal, the Financial Times reported, citing people familiar with the matter. Guangdong officials separately urged Tencent to back domestic Chinese chips. The lease, signed last month, was Tencent's largest overseas compute deal and a way to reach chips barred from China; Oracle, Tencent and the White House did not respond to requests for comment.