Oracle Drops Tencent's $7 Billion Chip Lease
Oracle canceled a $7 billion deal to lease Tencent up to 100,000 AI chips after US officials objected, despite Larry Ellison's close ties to Trump.
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At a glance
Oracle provides database, cloud infrastructure and enterprise software. Coverage follows OCI, data-center expansion and AI-related database products.
- Focus
- OCI; databases; enterprise infrastructure
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- Oracle
Reviewed 19 October 2026. Dates retain the precision of the source; retrospective disclosures are identified in the event. RPO is a future contracted-obligation measure. It is not interchangeable with cloud revenue or ARR.
Company milestones
Revenue, funding, product launches and major company events, newest first. Expand the earlier milestones for more history.
Q1 FY2027 cloud revenue reaches $11.6B
Total cloud sales rise 62%; infrastructure contributes $7.4B, up 121%, while cloud applications contribute $4.2B.
Source: OracleRPO reaches $664B
Remaining performance obligations rise $209B year over year. Contracted future obligations are not current-period revenue or ARR.
Source: Oracle
Show earlier milestonesHide earlier milestones2025–1977 · 8 milestones
Earlier revenue, financing and company milestones.
Q1 FY2026 cloud sales reach $7.2B
Cloud infrastructure and applications together grow 28%, providing a comparison point before the following year’s expansion.
Source: OracleExpands Stargate with a 4.5GW plan
Oracle and OpenAI announce additional data-center capacity under development. Planned gigawatts are not counted as delivered capacity or recognized sales.
Source: OpenAI / OracleLaunches autonomous transaction processing
Oracle extends its autonomous-database offering into transaction workloads, combining cloud infrastructure with automated operations.
Source: OracleCompletes the acquisition of NetSuite
The transaction expands Oracle’s cloud ERP portfolio for smaller and midsize companies.
Source: OracleAnnounces completion of the Sun acquisition
The combination brings server hardware, Java and related technologies into Oracle’s enterprise platform.
Source: Oracle / SECBecomes a public company
Oracle’s corporate history records its IPO as a milestone between its early database business and later enterprise expansion.
Source: OracleReleases Oracle Version 2
The commercial relational database becomes a foundation for the company’s later enterprise and cloud software businesses.
Source: OracleOracle’s founders establish the business
Larry Ellison, Bob Miner and Ed Oates start Software Development Laboratories, preceding the Oracle database and company name.
Source: Oracle
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