Oracle's $7 Billion AI Deal Collapses After US Intervention

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This article first appeared on GuruFocus. Oracle Corp. (ORCL, Financials) has terminated a $7 billion contract to lease artificial intelligence chips to Tencent over U.S. officials' worries over Chinese access to sophisticated computer technologies, a report said.The deal would have given Tencent access to about 100,000 high-end AI processors via Oracle data centers in Southeast Asia.The five-year deal, which was revealed in September, was billed as Tencent's largest foreign chip leasing deal.The contract was said to entail an upfront payment of around 30% of its estimated worth.The article said Oracle dropped the deal after being asked by U.S. officials about the pact.