Oracle Shares Surge Over 4.5% on Report of Major AI Chip Leasing Deal
Stock News
Yesterday
On Friday, Oracle (ORCL.US) opened higher and, as of the latest update, its shares had climbed more than 4.5%. This rally followed media reports that Tencent Holdings has signed its largest overseas leasing agreement with Oracle.
Under the deal, Tencent Holdings has agreed to lease multiple data centers from Oracle in Southeast Asia for a five-year term. The arrangement grants Tencent access to approximately 100,000 high-end AI chips.
The agreement is estimated to be worth about $7 billion, with a prepayment ratio of roughly 30%.
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