Oracle share price surges after Trump administration says Oracle to secure TikTok algorithm in U.S.
Oracle stock price on Monday surged over three per cent to $320 after a senior official in President Donald Trump’s administration today said that the tech giant will receive a copy of TikTok’s algorithm to operate for US users. This came after Oracle shares surged about 43 per cent to a record high earlier in September, putting the company on track to join the elite trillion-dollar club, after it showcased its rise as a major AI cloud provider. Oracle has also named Clay Magouyrk and Mike Sicilia as CEOs, with current CEO Safra Catz becoming executive vice chair of the technology company’s board. The announcement comes as Oracle founder Larry Ellison has been named as part of a group that could be part of a deal in which the U.S. will…
