9/20, 1:35 AM (Source: TeleTrader)
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Oracle confirms deal with TikTok

Oracle Corp. confirmed that it was chosen alongside Walmart Inc. to become TikTok's secure cloud technology provider.

According to the agreement, ByteDance Ltd.'s video app will run on Oracle Cloud and Oracle will become a minority investor in TikTok Global, the new United States-based business.

Meanwhile, Walmart is in negotiations over a commercial partnership.

Breaking the News / MD