Oracle: Tencent rents 100,000 AI chips for $7 billion - OCI becomes a global AI capacity provider

Tencent is said to pay around $7 billion to access about 100,000 advanced AI chips in Oracle data centers for five years. The deal would expand OCI with another major customer and reduce the dependence of the AI narrative on OpenAI. OCI is already growing at 121% – tight GPU capacity is turning into a global billion-dollar market for Oracle.   At Oracle (i), the AI cloud story receives a new billion-dollar component. According to a report from the Financial Times, Tencent has signed a five-year contract with Oracle that will grant...