China’s Tencent leases 100,000 chips from US’ Oracle amid escalating AI race: Report

Chinese tech giant Tencent has signed a $7 billion lease deal with US cloud provider Oracle that has enabled the company to access around 100,000 advanced AI chips, which were not available in China, the Financial Times reported on Thursday. The world-leading internet and technology company this year agreed to a five-year lease across multiple Oracle data centers in south-east Asia amid an escalating AI race. Neither Tencent nor Oracle has publicly revealed the reported deal. Tencent’s largest overseas deal empowered the company to access around 100,000 advanced AI chips, which were not available in China. The agreement includes an…