Oracle Stock Climbs on Reported TikTok Deal Involvement

Oracle (ORCL) shares rose Tuesday on a report that the software firm is among a consortium of companies that would let Chinese-owned TikTok to continue operating in the U.S.—if a “framework deal” between Beijing and Washington is finalized.

According to CBS, which cited sources with knowledge of the negotiations, the final deal over TikTok will include multiple companies. It wasn’t immediately clear who will control TikTok’s recommendation algorithm or what role parent company ByteDance will play, the report said.

TikTok parent ByteDance had until Wednesday to agree to sell the social media platform to a U.S.-based owner or be banned in the country—before President Donald Trump in an order extended the deadline to mid-December.

Oracle shares, recently up 1%—backing off morning highs—and more than 80% for the year, soared earlier this month after it reported a substantial backlog that suggested the AI spending boom has legs.

Oracle co-founder Larry Ellison has close ties to Trump and his software firm has frequently been reported as a potential bidder for the social media app. The surge in the company’s shares lifted Ellison’s net worth above that of Elon Musk, according to Bloomberg, for a while making the 81-year-old database pioneer the richest person in the world.

The CBS report came a day after Treasury Secretary Scott Bessent said the U.S. has reached a “framework for a TikTok deal” following two days of trade talks between Beijing and Washington in Madrid. Trump also suggested a deal had been reached on Monday.

This article has been updated since it was first published with fresh share-price information and to reflect the executive order and other information.