Tencent Leases 100,000 AI Chips From Oracle in $7 Billion Overseas Deal

Tencent Holdings has signed a five-year lease with Oracle Corp. for roughly 100,000 advanced AI chips unavailable in China, in a deal valued at about $7 billion, the Financial Times reported on October 1, 2026. Approximately 30% of the sum is due upfront. The agreement, described by Tencent as its largest overseas lease to date, covers several Oracle data centers across Southeast Asia, according to people familiar with the arrangement cited by MarketWatch. Neither Oracle nor Tencent responded to requests for comment, Reuters reported. The deal underscores Tencent's push to expand its AI capabilities. The Shenzhen-based owner of WeChat has been investing heavily in building and deploying large language models. Chinese technology firms are racing to secure AI chip supplies amid escalating U.S. export controls, while Beijing promotes domestic alternatives to U.S. technology providers.