Oracle Stock Slips After $7 Billion Tencent Deal Is Canceled

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This article first appeared on GuruFocus. Oracle Corporation (NYSE:ORCL) has canceled a $7 billion chip leasing deal with Tencent after U.S. officials raised concerns with the company, the Financial Times reported, citing two people familiar with the matter. Oracle shares were down 2.30% in premarket. Warning! GuruFocus has detected 5 Warning Signs with ORCL. Is ORCL fairly valued? Test your thesis with our free DCF calculator.ORCL GF Value chart The agreement would have leased 100,000 chips to Tencent in the Chinese firm's largest ever overseas deal. The cancellation follows another FT report on Tuesday that Nvidia Corporation (NASDAQ:NVDA) has told its cloud partners to sell at least 51% of their services to non-Chinese companies.