Η Oracle said it will be TikTok's cloud provider in a deal that gives it a stake of up to 12,5% in social media networks.
In one statement, Oracle reported that the "technical decision" for TikTok was based on Zoom's reference account.
However, TikTok, owned by Bytedance, was also facing a shutdown command (by President Trump), which expired Sunday due to security concerns. Trump approved this particular deal last Saturday.
Oracle CTO Larry Ellison said TikTok will run in the Oracle Cloud. CEO Safra Catz said:
Oracle will rapidly deploy and operate TikTok's systems on the Oracle Cloud. We are one hundred percent confident in our ability to provide a very safe environment on TikTok and to ensure the protection of the data privacy of US users, but also TikTok users around the world.
Of course for Oracle, the cloud deal with TikTok is a win and can give it a higher profile.