June 24, 2024

A U.S. ban of TikTok might hurt Oracle’s business, the software company acknowledged in its annual report on Monday.

In April, President Joe Biden signed a bill demanding that China’s ByteDance sell TikTok in nine months, or one year if an extension is approved, if the short-video company wants to avoid a ban in the U.S. TikTok’s ownership structure has long been a source of tension in the U.S. due to concerns about user data making its way to China.

Oracle provides cloud infrastructure for TikTok, which has over 150 million users in the U.S.

Read more:

https://www.cnbc.com/2024/06/24/oracle-warns-that-a-tiktok-ban-would-hurt-business.html