On September 14, Oracle confirmed U.S. Treasury Secretary mnuchin's statement that Oracle would serve as tiktok's "trusted technology provider" in the plan submitted to the U.S. Treasury Department by byte hopping.Boosted by the news, Oracle shares rose 5.56% to $60.17.
On the same day, according to the news that China News Agency is a through train, U.S. Treasury Secretary mnuchin said in an interview with the media that the US Treasury Department received a proposal over the weekend, and Oracle, as a reliable data security compliance partner of tiktok, represented to solve the national security problems of the United States. Tiktok will continue to use the United States as its headquarters and create 20000 jobs for the United States.
It is worth noting that the solution mnuchin talked about is Oracle as a data compliance partner, similar toAppleIn China, the scheme of data compliance by Guizhou on cloud does not involve the sale of tiktok mentioned by trump, nor does it involve the transfer of tiktok's core technology.
The deadline for tiktok's final solution is September 20. At present, two procedures are in progress, one is the review of tiktok by cfuis of the United States, and the other is the national security review based on the executive order of the president of the United States.
This week, the U.S. Treasury will work with the cfuis committee to review the proposals and make recommendations to the president of the United States, Mr. mnuchin said.
Oracle is the old Silicon Valley technology company. Larry Ellison and three other engineers founded the Software Development Laboratory (Software Development Laboratories) in 1977 and owned the first 84-square-meter office in Santa Clara, California. Company name changed to Oracle in 1982(Oracle). Oracle listed on NASDAQ in 1986 under ORCL. trading code CNBC reports point out that oracle is in close contact with the us government.
Tiktok is a short video application dedicated to overseas market under byte hop.
Prior to this, in June, U.S. President trump issued the first executive order against tiktok, requiring individuals and entities subject to U.S. jurisdiction not to enter into any "transactions" with byte hop and its subsidiary tiktok after September 20 (45 days after the issuance of the executive order).
Then on August 14, trump again pressed for byte jitter to sell or spin off the company's tiktok business in the United States within 90 days.
On the evening of September 13, local time, Microsoft issued an official statement saying that it had received the message from byte skipping that it would not sell its short video application tiktok to Microsoft in the United States.
Subsequently, Wal Mart, which originally bid for tiktok's US business as a Microsoft Partner, issued a statement saying that it continued to be interested in investing in tiktok and would continue to discuss with byte hopping and other relevant parties.