According to the Financial Times, citing two people familiar with the matter, Oracle has canceled a $7 billion deal to lease 100,000 chips to Tencent after U.S. officials raised concerns. The agreement would have been Tencent's largest overseas deal ever. Oracle shares were down 2.30% in premarket trading. The cancellation follows an FT report that Nvidia told its cloud partners to sell at least 51% of their services to non-Chinese companies, in a context where many Chinese firms have relied on overseas cloud arrangements for AI work. The FT report came two days after Oracle filed to raise $20 billion through a note sale and a concurrent stock offering.
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