Oracle is believed to have a key role in a new TikTok deal that would keep the app live in the US.
Although a deal hasn’t yet been signed, US president Donald Trump and Chinese leader Xi Jinping are said to be close to an agreement on the future of the social media platform.
Last year, US Congress passed a law whereby TikTok would have to pass to US ownership of shut down in the country, but has had several extensions to keep it alive while a deal is negotiated.
Last week, Trump said a deal with Xi Jinping had been reached, and on Sunday White House press secretary Karoline Leavitt added some details.
The new structure probably won’t see China-based ByteDance sell off its US assets, but will see a US branch of the organisation set up to run the local version of the app.
The US version would have a board of seven directors, six of whom will be American, but most of the original ByteDance investors would retain their stakes in the company.
Oracle will play a key role in the US version of TikTok: it will be part of a consortium taking a stake in the US organisation and also taking responsibility for data and privacy.