Oracle’s business may suffer if the US bans TikTok, the company said. The software company made this claim in the company’s annual report last Monday. News CNBC.
Last April, President Joe Biden signed a bill that would ban ByteDance if TikTok is not sold within the next nine months or a year, subject to approval. This bill to ban TikTok was passed on allegations that the information of US customers is being trafficked to China.
Oracle provides cloud infrastructure services to TikTok. TikTok has more than 150 million subscribers in the United States. If the US bans TikTok, Oracle will not be able to provide this service to TikTok. As a result, their business will suffer.
Oracle said that if TikTok could not be serviced, their capabilities would not be able to be used elsewhere in a timely manner. As a result, both revenue and profit will be affected.
No comment was received from TikTok in this regard.
