After yesterday’s news that Microsoft’s bid for TikTok’s US business has been rejected, rival suitor Oracle offered an update on its plans. It’s “part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider”.
Note that wording: Oracle is NOT buying TikTok. Instead, if the proposal is accepted, its cloud technology will be put to use to (in the words of TikTok’s separate statement) “resolve the Administration’s security concerns” about how American TikTok users’ data is stored and handled.
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