Oracle cancels $7bn Tencent AI deal under Trump pressure

Oracle has cancelled a $7 billion chip leasing deal with Tencent due to pressure from the Trump administration. This intervention occurs amidst escalating tensions for US AI infrastructure groups conducting business with Chinese tech giants. The decision reflects the growing geopolitical friction affecting high-tech partnerships between the United States and China, specifically regarding the provision of critical AI hardware and infrastructure services to major Chinese firms like Tencent in the current political climate.