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Benzinga
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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