According to Reuters, the deal being negotiated by the White House would see ByteDance retaining a stake in the company — either the U.S. or global operations — but data collection and software updates would be overseen by Oracle, which already provides hosting for TikTok.

U.S. President Donald Trump said he is in talks with multiple people over buying TikTok and will likely have a decision on the app’s future

Shares of Oracle ( ORCL -1.54%) flew higher this week. The firm's stock gained 14% as of 4:20 p.m. ET, but was up as much as 17.4% earlier in the week. The surge comes as the S&P 500 ( ^GSPC -0.29%) and Nasdaq Composite ( ^IXIC -0.50%) were up 1.7% and 1.6%, respectively.

Oracle's shares jumped nearly 9% before the bell on Wednesday after U.S. President Donald Trump said the company would make a large investment in artificial intelligence infrastructure, alongside OpenAI and SoftBank .

Yesterday the world of AI and stocks in the sector changed as President Donald Trump announced the formation of Stargate , a new $500 billion joint venture deal to build artificial intelligence infrastructure in the US, with Oracle ( NYSE:ORCL ), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank all at the table ..

After the bipartisan TikTok law was signed by former President Joe Biden in April, ByteDance said it did not have plans to sell the platform and fought the statute in court for months. China also rebuked Washington over the divestment push, though more recently it appears to be softening its stance.

President Donald Trump said he is open to Elon Musk or Oracle (ORCL) Chairman Larry Ellison purchasing TikTok as part of a joint venture with

President Donald Trump on Tuesday announced that three leading companies would make a large investment in artificial intelligence infrastructure. OpenAI, SoftBank (9984.T), and Oracle (

Shares of Oracle ( ORCL 6.75%) are on the move today. The firm's stock is up 5.7% as of 1 p.m. ET. The leg up comes as the S&P 500 ( ^GSPC 0.61%) and Nasdaq Composite ( ^IXIC 1.28%) gained 0.6% and 0.3%, respectively.

Oracle on Tuesday released a new set of artificial intelligence agents to help salespeople with a range of tasks around dealing with customers.

Shares of Oracle ( ORCL 6.75%) are flying higher on Wednesday. The company's stock is up 6.4% as of 11:20 a.m. ET, but gained as much as 11.3% earlier in the day. The sharp move came as the S&P 500 and the Nasdaq Composite gained 0.7% and 1.3%, respectively.

The administration of U.S. President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app's operations,