Oracle's TikTok Deal Boosts Stock, Cloud Business

Oracles stock surged over seven percent as TikToks parent company, ByteDance, agreed to a new U.S. joint venture with Oracle. This deal gives Oracle and its partners a controlling interest in TikToks U.S. operations, addressing national security concerns and potentially boosting Oracles cloud business. However, Oracles shares have been volatile, and concerns about the companys debt and strategy persist.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.