Tencent has reportedly signed a five-year agreement, worth about $7 billion, to lease roughly 100,000 advanced AI chips housed in several Oracle data centres in Southeast Asia, with around 30% paid upfront. It is described as Tencent's largest overseas…
Finance angle The finance angle: about $7 billion over five years, roughly $2.1 billion of it upfront, would flow to Oracle's cloud business from a single customer, for hardware that Nvidia could not sell into China directly. The cost shows on Tencent's side: its second-quarter capital spending rose 176% to RMB 52.8 billion and…
Oracle reported fiscal first-quarter revenue of $19.3 billion, up 30%. Cloud revenue rose 62% to $11.6 billion, with cloud infrastructure revenue up 121% to $7.4 billion. Remaining performance obligations were $664 billion, $209 billion more than a year…
Finance angle Oracle's $664 billion backlog is revenue its customers, largely AI developers, have contracted but not yet paid, and it is 34 times the quarter's $19.3 billion of revenue. To deliver it Oracle spent $28.499 billion on capex in one quarter, more than its total revenue, leaving free cash flow at negative $5 billion.…
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