The Treasury Department said it would examine Oracle's proposal for TikTok’s U.S. operations and then make a recommendation to President Trump
The Treasury Department said it would review a deal by Oracle Corp. for TikTok’s U.S. operations aimed at avoiding a ban of the popular video-sharing app because of its Chinese ownership.submitted by TikTok’s Chinese parent ByteDance Ltd. to the U.S. government in which the American tech company would “serve as the trusted technology provider.” It beat out Microsoft Corp.
Details of Oracle’s arrangement with TikTok weren’t immediately disclosed, but it is expected to involve moving TikTok’s data on American users to Oracle’s cloud-computing infrastructure and housing that information only in the U.S. Oracle is joining with some of ByteDance’s U.S. investors, and Walmart Inc., which had been working with Microsoft, suggested late Sunday that it is considering joining the Oracle group, according to the people.
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