Oracle abandons $7 billion Tencent AI deal under Trump pressure, FT reports Reuters
Oracle abandons $7 billion Tencent AI deal under Trump pressure, FT reports - Reuters
In short
Oracle decided to walk away from a $7 billion artificial intelligence collaboration planned with Chinese tech giant Tencent. The termination of the massive venture came after the Trump administration applied targeted pressure, according to reporting from the Financial Times. As a result, the high-value cross-border technology arrangement will no longer move forward.
Key points
- Government intervention by the Trump administration successfully disrupted a major corpor…: Government intervention by the Trump administration successfully disrupted a major corporate AI agreement.
- Oracle chose to forfeit a $7 billion deal rather than defy political pressure.: Oracle chose to forfeit a $7 billion deal rather than defy political pressure.
- Tencent will no longer receive the artificial intelligence collaboration previously plann…: Tencent will no longer receive the artificial intelligence collaboration previously planned with Oracle.