Tencent leases 100,000 chips from Oracle for $7 bln- FT

Investing.com-- Tencent signed a $7 billion lease deal with Oracle to gain access to about 100,000 advanced artificial intelligence chips, as the Chinese internet giant races to catch up in the AI race, the Financial Times reported on Thursday. Before you buy NVIDIA: our AI model's stock picks are beating the market by 120%+. See the list now » Tencent (HK:0700) agreed to a five-year lease across multiple Oracle (NYSE:ORCL) data centers in southeast Asia, the FT reported, citing two people with knowledge of the matter. The deal is Tencent's largest ever overseas lease agreement, and grants the internet and videogame giant access to about 100,000 advanced chips that were not available in China, the FT report said.