Oracle Leads U.S. Joint Venture with TikTok, Boosting AI Mining Stocks and Bitcoin
TikTok will establish a U.S. joint venture led by American investors, with Oracle becoming the primary AI cloud and data-security provider. Oracle will oversee where TikTok’s AI recommendation systems are retrained on U.S.-based data. Following reports of binding agreements to form the U.S. joint venture, Oracle shares rose about 6% in pre-market trading to around $190.
This deal is viewed as validation that Oracle’s AI exposure is linked to real, large-scale workloads, which eases concerns about AI-driven valuation risk. Meanwhile, Bitcoin traded above $88,000, reaching approximately $88,311, contributing to a risk-on market sentiment.
AI mining stocks responded positively: IREN gained about 4%, Cipher Mining about 4%, and CoreWeave about 6%. Invesco QQQ futures also rose roughly 0.5% as risk assets improved.
The backdrop includes pressure on AI hyperscalers from debt-funded data-center spending and project delays; the TikTok deal helps alleviate some investor concerns. Attention is shifting to the U.S. Personal Consumption Expenditures price index data after a week featuring inflation data, jobs data, and a Bank of Japan rate hike.
