In Brief
Posted:
TikTok has until April to finalize a sale to a U.S.-based buyer, yet uncertainties about the future of the short-form video app remain.
However, a new report has emerged, suggesting that Oracle is the leading candidate to serve as the cloud technology partner for managing TikTok in the U.S., according to The Information.
Sources including investors, bankers, and former executives familiar with TikTok’s parent company, ByteDance, told the outlet that the company favors Oracle over other cloud providers. Since 2022, TikTok has been utilizing Oracle servers to store data of U.S. users, making it a likely option for this deal.
The report suggests that ByteDance still wants to have a hands-on role in TikTok’s operations, with Oracle as a partner.
Additionally, President Trump has shown support for Oracle’s role in the deal.
Oracle hasn’t responded to requests for comment.
Newsletters
Subscribe for the industry’s biggest tech news
