Oracle Boosts Pre-Market with TikTok US Stake

about 1 month ago

Nathan Hager

"Oracle shares are higher by close to 5% in pre-market trade, rising on the news that it will own 15% of Tik Tok US. Now, Tik Tok unveiled a long delayed plan to separate from its Chinese parent, Bite Dance. They've signed binding agreements to create a US joint venture of a majority owned by American investors. Oracle being the lead, Silverlake and MGX are also taking part. They will take a combined 50% stake in Tik Tok US. Now this joint v venture will operate as an independent entity that will control the data protection, the content moderation, the algorithm, all of the security that the US wanted uh in their own hands instead of in on Chinese ground."

Oracle is experiencing a positive pre-market reaction, rising about 5% as it leads a strategic joint venture to acquire a significant stake in TikTok US, a move that could enhance its competitive positioning in data security and content moderation.

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