Oracle reportedly abandons $7 billion Tencent deal under Trump pressure
Oracle reportedly canceled a multibillion-dollar chip-leasing contract with Tencent after pressure from the Trump administration. Oracle shares were down 2.2% in premarket trading.
1. Reported deal cancellation
Oracle canceled a multibillion-dollar chip-leasing contract with Tencent after US officials raised concerns about the deal, a report said. The contract was estimated at $7 billion, and Oracle, Tencent and the White House did not respond to requests for comment.
