The Financial Times reported on Nov. 4, 2026, that Oracle had canceled its planned AI-computing lease with Tencent. Reuters said it could not immediately verify the account in its syndicated report.
Tencent would have rented computing capacity remotely, with the AI chips hosted in Oracle data centers in Southeast Asia.
The proposed lease was for remote computing capacity
The reported plan was a five-year lease estimated at about $7 billion, covering about 100,000 advanced AI chips across multiple Oracle data centers in Southeast Asia. Tencent would have accessed the computing capacity remotely. NeoTeo previously covered the proposed Oracle–Tencent arrangement.
U.S. and Guangdong officials reportedly weighed in
The Financial Times account said U.S. officials approached Oracle with concerns about the arrangement. Separately, senior officials from Guangdong visited Tencent and urged it to support chips made in China, according to the report.
The reported price figures do not establish a comparable discount
Infobae reported that the proposed terms included an upfront payment of about 30% of the estimated contract value, or roughly $2.1 billion. Its account did not identify the chip model. It also relayed estimates of $1.60 per chip-hour for the proposed five-year lease and $2.35 per hour for an Nvidia H100 under a one-year contract. Infobae’s report supplied those figures; calculated against $2.35, $1.60 is 31.9% lower, not 43%. The different contract periods and unidentified chip model mean that arithmetic does not establish a like-for-like price advantage.
