Oracle Falls Over 1% Pre-Market: Reportedly Cancels About $7 Billion AI Chip Lease Agreement With Tencent After US Officials Expressed Concern
TradingKey - As of press time on Nov 4 ET, Oracle (ORCL) fell 1.36% in pre-market trading to $124.47. According to the Financial Times, Oracle has canceled a five-year AI chip lease agreement signed with Tencent, worth approximately $7 billion. Previously, US officials had expressed concerns over the deal, highlighting…