Nvidia to ship 1% of $70B RTX chips ordered by Alibaba, Tencent: report

Oracle has terminated a $7 billion chip leasing deal with Tencent following pressure from the Trump administration, according to the Financial Times. US officials reached out to Oracle to express concerns about the agreement, citing reports from people familiar with the matter. Additionally, top officials from Guangdong, Tencent's home region, visited the company and urged it to support domestic Chinese chip production.

However, Reuters could not independently verify the report, and Oracle, Tencent, and the White House declined to comment on the matter. The Financial Times had previously disclosed that Tencent had inked the largest overseas lease agreement with Oracle, valued at approximately $7 billion. This contract would have granted Tencent access to around 100,000 advanced artificial intelligence chips, unavailable in China due to restrictions imposed by both the US and China.

The lease agreement encompassed multiple Oracle data centers across Southeast Asia. This development emerges as Chinese AI companies increasingly rent access to AI accelerators, such as those provided by American firm Nvidia, to circumvent US export controls.