Oracle stock rises as White House names software giant in TikTok deal; company announces CEO shakeup

Core Viewpoint - Oracle's stock rose 3% following the confirmation of its involvement in a consortium to control TikTok's US operations, alongside a CEO shakeup announcement [1] Group 1: TikTok Deal - A senior White House official confirmed that TikTok's US operations will be moved into a new joint venture based in the US, with American investors holding a majority stake and control of the board [2] - Oracle and Silver Lake will lead the new venture, while ByteDance will retain less than 20% equity [2] - The deal includes plans to copy TikTok's recommendation algorithm and place it under US control for retraining, with Oracle serving as the security provider [3] - The algorithm will be regularly inspected by US government officials to ensure compliance with security requirements [4] - The US government will not take equity or a board seat but may charge a fee for facilitating the deal [5] - Analysts view Oracle's involvement positively, as it allows the company to continue its partnership with TikTok, which is projected to contribute 5% to OCI's revenue in the 2025 fiscal year [6] Group 2: CEO Changes - Oracle announced the appointment of two new co-CEOs, Clay Magouyrk and Mike Sicilia, to replace current CEO Safra Catz [7] - Clay Magouyrk previously served as president of Oracle Cloud Infrastructure, while Mike Sicilia was president of Oracle Industries [7]