Oracle (ORCL) is confirmed to be part of the consortium of buyers set to acquire and own a combined 45% of TikTok’s U.S. operations in a deal that was reportedly signed by TikTok parent ByteDance and satisfies the U.S. regulatory demands, RBC Capital analyst Rishi Jaluria tells investors in a research note. The firm views the deal as positive for Oracle, as it could boost OCI revenue growth amid concerns about customer concentration with OpenAI, and Oracle may also gain strategic and economic benefits from access to TikTok’s data infrastructure role and its investment stake in one of the world’s most valuable private companies. RBC Capital has a Sector Perform rating and $250 price target on Oracle shares.
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