- TikTok is close to forging a deal for Oracle Corp ORCL to store its U.S. users' information without its Chinese parent ByteDance having access to it, Reuters reports.
- Oracle will store all of TikTok's U.S. user data on Oracle data servers under the new proposed partnership.
- Alphabet Inc's GOOG GOOGL Google Cloud currently stores some of TikTok's data.
- Previously the U.S. ordered ByteDance to divest TikTok over user data security concerns.
- Oracle had discussed acquiring a minority stake in TikTok in 2020 when ByteDance was under U.S. pressure to sell the app.
- Price Action: ORCL shares traded higher by 0.28% at $76.31 on the last check Thursday
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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