Oracle Spearheads TikTok Deal Amidst U.S.-China Framework Agreement
Oracle has emerged as a pivotal player in a landmark deal aimed at preserving TikTok’s operations in the United States. This development comes as the Trump administration and China have reached a framework agreement this week. Oracle, alongside Silver Lake and Andreessen Horowitz, will form an investor consortium projected to control 80% of TikTok’s U.S. operations.
Following the announcement, Oracle’s shares experienced a surge. The tech giant will continue its crucial cloud hosting agreement with TikTok, while potentially acquiring an ownership stake. This deal, anticipated to conclude within 30-45 days, presents a resolution to the longstanding national security concerns surrounding Chinese ownership of the popular social media platform.
President Trump and Chinese President Xi Jinping are set to finalize the terms during a call scheduled for Friday. Oracle, already hosting TikTok’s U.S. user data through its “Project Texas” initiative, has been positioning itself as a key partner in the platform’s American operations.