The Trump administration and software giant Oracle—led by billionaire Larry Ellison—are discussing a deal to take over TikTok, according to NPR, the latest company that is rumored to be interested in buying ByteDance's popular social media app to navigate around a U.S. ban.
The administration of U.S. President Donald Trump is working on a plan to save TikTok.
The Trump administration is negotiating a deal that would see Oracle take over TikTok alongside new U.S. investors, according to a report in NPR.
The administration of U.S. President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app's global operations, National Public Radio reported on Saturday.
GE Vernova has the ability to realize significant growth and margin expansion, driven by strong power demand for lighting up data centers. Oracle & Softbank recently announced a $500b venture for developing large-scale data centers. Oracle had previously hinted at constructing multiple 200MW sites for OpenAI. GEV's long-term growth is supported by partnerships in developing small modular reactors, potentially accelerating the commencement towards the end of the decade.
Oracle (ORCL) closed the most recent trading day at $183.60, moving -1.54% from the previous trading session.
Shares of Oracle (ORCL -1.54%) flew higher this week. The firm's stock gained 14% as of 4:20 p.m.
On Tuesday, President Donald Trump announced The Stargate Project, a private $500 billion artificial intelligence (AI) infrastructure project in the United States, as I reported on Wednesday. He heralded it as the "largest AI infrastructure project, by far, in history.
Here are some of the major companies whose stocks moved on the week's news.
Apple Inc. AAPL, Alphabet Inc's GOOG GOOGL Google and Oracle Corp ORCL remain divided in their approaches to TikTok as their vested interests play out.
The Trump administration's planned $500 billion Stargate project promises lots of A.I. promise. Angelo Zino says the biggest question surrounds how big the endeavor can get.
Zacks.com users have recently been watching Oracle (ORCL) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.