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Benzinga

Politics

Anusuya Lahiri

TikTok Close To Storing US Data With Oracle: Reuters

TikTok Oracle United States ByteDance ORCL Alphabet Inc NYSE Oracle Corp

TikTok is close to forging a deal for Oracle Corp (NYSE: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 (NASDAQ:GOOG) (NASDAQ: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

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