Oracle, TikTok
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Oracle shares were up more than 8% in Friday’s midday trade after China’s ByteDance struck a deal to sell TikTok’s U.S. operations to a new entity, TikTok USDS Joint Venture, which includes the company.
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Is TikTok — Not AI — What Saves Oracle?
Oracle (NYSE: ORCL) shares are jumping 5% in premarket trading this morning, following news that TikTok’s parent company ByteDance signed binding agreements to form a U.S. joint venture majority-owned by American investors.
Shares of Oracle Corporation are trading higher Friday after reports confirmed the technology company will be one of TikTok's new owners.
TikTok signed a landmark deal on Thursday to sell its US business to three American investors – Oracle, Silver Lake, and MGX - ensuring that the popular video-sharing platform continues to operate in the United States.
Oracle's aggressive push into artificial intelligence infrastructure is facing a critical financial reality check. The technology giant's latest quarterly re