President Donald Trump hinted on Truth Social Monday that a long-awaited deal involving TikTok may finally be complete.
- ORCL stock is trading higher. See the details here.
TikTok Deal
In his post, Trump noted that a deal had been reached concerning a "certain" company that "young people in our Country very much wanted to save."
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He did not name TikTok directly, the reference appeared to point squarely at the popular short-video app, which has been at the center of negotiations and political scrutiny for years.
In fact, Treasury Secretary Scott Bessent confirmed minutes later that the U.S. and China had reached a “framework for a TikTok deal,” just days before a deadline that threatened to ban the app in the U.S.
Besent added that Trump will be speaking directly with China's President Xi Jinping on Friday to finalize the potential deal.
Trump's post and the follow-up from Bessent signal that TikTok, owned by China's ByteDance, will remain available to U.S. users following prolonged uncertainty over security concerns and potential bans.
In his first term, President Trump sought to restrict TikTok's operations in the U.S., citing fears around data privacy and the app's ties to China.
However, Trump has more recently acknowledged TikTok's massive popularity among younger generations and even credited the app with helping him win the 2024 election.
Beyond TikTok, Trump also highlighted the broader relationship between Washington and Beijing, saying that the relationship between the two nations "remains a very strong one."
Oracle Stock Is Up
Oracle Corp.'s (NYSE:ORCL) existing role in providing cloud infrastructure for TikTok positions the company as a trusted party for U.S. data management and a party in negotiations in potential deals.
If the proposed deal is finalized, Oracle could supervise TikTok's data and potentially collaborate with a consortium of other investors, with ByteDance retaining only a minority stake.
Oracle shares were trading up by 4% in early trading Monday, according to data from Benzinga Pro.
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Photo: Melnikov Dmitriy/Shutterstock
