Reuters reported on November 4, 2026, that the Financial Times, citing people familiar with the matter, said Oracle had canceled its proposed AI-chip lease with Tencent after U.S. officials raised concerns. Reuters said it could not immediately verify the account. At the time of its report, Oracle, Tencent and the White House had not responded to Reuters’ requests for comment.
What the proposed lease was reported to include
Earlier Financial Times reporting, summarized by Reuters, described a five-year lease estimated at $7 billion. It would have given Tencent access to about 100,000 advanced AI chips across multiple Oracle data centers in Southeast Asia. NeoTeo’s earlier coverage of the proposed Tencent–Oracle chip arrangement provides more background on the plan.
In an October 2 video, the Inside China Business host asserted that the proposal called for a 30% upfront payment and estimated an implied rate of about $1.60 per chip-hour. Those figures were the host’s assertions, not confirmed terms of the proposed lease.
Officials reportedly raised concerns
Reuters’ account said U.S. officials approached Oracle to express concerns about the Tencent agreement. Separately, senior officials in China’s Guangdong province reportedly visited Tencent and asked the company to support domestically made Chinese chips.
