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March
11 (Reuters) - Oracle's stake in TikTok's U.S. business operations is worth around $2 billion, a filing showed on Wednesday, more than a month after its Chinese parent ByteDance finalized a deal to set up a majority-owned American joint venture to avoid a ban.
Under the agreement, U.S. and global investors together hold an 80.1% stake in TikTok USDS Joint Venture LLC, while ByteDance owns 19.9%.
* Each of the joint venture's three managing investors —Oracle, private equity group Silver Lake and Abu Dhabi-basedinvestment firm MGX — holds a 15% stake. * Adam Presser was appointed CEO of the venture in January. * The deal was a milestone for the social media app afteryears of battles that began in August 2020, when PresidentDonald Trump unsuccessfully tried to ban the platform overnational security concerns. * Trump opted not to enforce a law passed in April 2024requiring ByteDance to sell its U.S. assets by January 2025 orface a ban — a measure upheld by the Supreme Court. * Oracle on Tuesday estimated that the AI data center boomwill power its revenue above Wall Street estimates well into2027. * The cloud computing company reported total revenue of$17.19 billion for the third quarter ended February 28, comparedwith analysts' average estimate of $16.91 billion, according todata compiled by LSEG.(Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)
