Oracle saw a 3% jump in its stock price on Monday, moving with serious momentum after the White House confirmed a potential TikTok deal was in the works during the US-China trade talks in Madrid. The S&P 500 also closed above 6,600 for the first time in history.
The deal isn’t finished, but Treasury Secretary Scott Bessent said the two governments had agreed on a framework, with Trump and Xi Jinping expected to finalize it when they speak on Friday. While no American buyer for TikTok has officially been named, Oracle is now seen as the frontrunner.
Shares in the company shot up as much as 5% in premarket after Trump posted about the deal on Truth Social, calling the trade meeting “VERY WELL!” and saying a deal was reached for a “certain” company that “young people in our Country very much wanted to save.” The stock eased back during the day but still ended up more than 3%.
Oracle stock rises amid potential TikTok ownership
The connection between Oracle and TikTok isn’t new. As previously reported by Cryptopolitan, the company is in charge of storing American TikTok user data through Project Texas, a move that started around 2022. However, the app still needs to sell to a US-allied company before September 17 or face a ban.
Trump, now in his second term, hinted that he may push the deadline again. But as it stands, Oracle has both the infrastructure and political backing to close a deal quickly. The White House had looked at a deal earlier this year where Oracle would run TikTok, as reported by Politico, though The Information noted that the plan might still give ByteDance, the Chinese parent company, some control. That part of the arrangement hasn’t been made public.
Other bidders include a group of investors led by Frank McCourt Jr., Microsoft, Mr. Beast, and Perplexity AI, but none have the existing setup Oracle does. The company’s servers are already doing the work. That matters more now that Trump is back and pushing for stronger U.S. control over Chinese apps. The S&P 500 closed 0.4% higher, crossing the 6,600 level for the first time. The Nasdaq Composite also hit a fresh high, climbing 0.8%, while the Dow Jones barely moved.
Another headline move came from Tesla, which surged 7% after Elon Musk disclosed he bought $1 billion worth of his own company’s stock. It was his first major open-market purchase since 2020, and the biggest ever. The buy was seen as a signal that Elon is betting on Tesla’s next big shift, from just cars to robotics, as the EV field keeps getting tighter.
Not everyone had a good Monday, though. Nvidia dropped by 1.8% after China’s regulators accused the company of breaking anti-monopoly laws. The probe is still ongoing. But Oracle is still holding investor attention, with its stock up by 81% for the year, riding a cloud forecast that sees revenue climbing to $144 billion by 2030, helped by a $300 billion deal with OpenAI.
Oracle has also been central to Trump’s AI plans. In January, Oracle chairman Larry Ellison stood alongside Sam Altman from OpenAI, Masayoshi Son from SoftBank, and Trump at the Oval Office, where they announced a $500 billion initiative called Stargate. The plan? Build AI data centers across the U.S. The project has hit delays, but the intent is still alive.
