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Trump-China deal hands TikTok’s U.S. algorithm to Larry Ellison's Oracle Contents 1. Oracle takes over algorithm, code, data, and surveillance systems 2. New U.S.-based TikTok venture has Oracle, private equity, and tight restrictions In this post: Trump approved a deal handing control of TikTok’s U.S. algorithm to Oracle. Oracle will rebuild, retrain, and monitor the algorithm without ByteDance involvement. The new U.S.-based TikTok venture will be majority-owned by American investors. Oracle is now taking full control of TikTok’s U.S. algorithm under a national security deal signed off by President Donald Trump, according to a statement from the White House. The...

Oracle (ORCL) stock jumped over 36% Wednesday to a new record close after the software giant said its AI-fueled cloud revenue is set to jump to $144 billion by its 2030 fiscal year.That marks a massive leap from the company's projection of less than $20 billion for the business in its current fiscal year."We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year — and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years," CEO Safra Catz said in a statement on Tuesday.Oracle stock's rise Wednesday was...

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter. CNBC reports: In a wide-ranging conversation with Bill Frist, a former U.S. Senate Majority Leader, Ellison said Oracle is moving a "huge campus" to Nashville, "which will ultimately be our world headquarters." He said Nashville is an established health center and a "fabulous place to live," one that Oracle employees are excited about. "It's the center of the industry we're most concerned about, which is the health-care industry," Ellison said. The announcement was seemingly spur-of-the-moment....

By day, Brian Krewson is a technical expert at computing giant Oracle. But by night he’s Mr. Poto, a fire-breathing, stilt-walking party entertainer, happy to perform at birthdays, weddings and corporate picnics. A Facebook photo from Halloween 2020 shows Krewson dressed in full methlab attire as a remarkably convincing Walter White, the infamous drug trafficker played by Brian Cranston in Breaking Bad. According to a Justice Department DOC, Krewson's resemblance to that character extends beyond appearance. The agency alleges that Krewson helped store and launder $54 million worth of cryptocurrency for two friends, Christopher Castelluzzo and Luke Atwell, who were...

Last week, billionaire internet entrepreneur (Netscape co-founder) Jim Clark broke the news to the WSJ that he sold his oceanfront estate near Palm Beach, Florida, for $173mln. At the time, Clark wouldn’t reveal who the mystery buyer was. Bloomberg reports the buyer of the most expensive property ever sold in Florida is no other than billionaire Oracle Corp. co-founder Larry Ellison. Ellison’s new estate includes a 62,000-square feet Mediterranean-style mansion and several other buildings on the property with more than 30 bedrooms. It was noted by Bloomberg The real estate transaction was off-market. Clark bought the estate in early 2021...

The Milton Keynes outfit will henceforth be known as Oracle Red Bull Racing, with the US-based company following on from Infiniti - who had the title deal from 2013 to 2015 - and Aston Martin, whose name was incorporated from 2018-2020. Honda was added to the end of the team name only for the 2021 season. Oracle first joined Red Bull last March in what was announced at the time as a multi-year deal, and which has now been upgraded. Since 2013 Oracle has also been the sole title sponsor of America's Cup contender Team USA, owned by company founder...

The Oracle engineer who created the APEX System and then worked with the CDC to develop a COVID tracking system died late last month from coronavirus. Joel Kallman announced he took the vaccine back in March.

Microsoft’s bid to purchase TikTok’s US operations was rejected, the company announced Sunday, with Oracle reportedly winning the bid to help run the popular social media app in the states. The deal between Tiktok’s Beijing-based owner ByteDance and Oracle is not believed to be structured as an outright sale, a source told The Wall Street Journal. Instead, the software giant is set to be the app’s “trusted tech partner,” in the US, the report said.

Oracle Corp. co-founder Larry Ellison said he has moved his primary residence to Hawaii, becoming the latest Silicon Valley executive to depart the state where they built their fortunes. Ellison, the world’s 11th-wealthiest person, notified his staff Monday of the move. Recode first reported the executive’s decision, which followed Oracle’s announcement Friday that it had shifted the company’s headquarters to Austin, Texas, from Redwood City, California. “I’ve received a number of inquiries about whether or not I will be moving to Texas,” Ellison wrote in a memo to Oracle’s employees. “The answer is no. I’ve moved to the State of...

The California Exodus continues, as Oracle has become the latest tech company to leave the Golden State for Texas.The company noted the move at the very bottom of their latest 10-Q, the tech company founded 43 years ago in Santa Clara, California announced that they would be "implementing a more flexible employee work location policy and has changed its Corporate Headquarters from Redwood City, California to Austin, Texas," where the company opened a massive 40-acre riverfront campus in 2018 with the capacity for up to 10,000 employees. The company says the move will "best position Oracle for growth and provide...

TikTok has reached an agreement to partner with software giant Oracle, a landmark deal that could redefine how the U.S. and China square off over the reach of their homegrown technology companies. The deal, which was confirmed Sunday by a source with direct knowledge, comes after the Trump administration pressured TikTok to sell its U.S. business over concerns about the threat to national security. The administration alleged that the company's ties to China through its parent company, ByteDance, meant it would have to hand over data about Americans if asked by China's government. TikTok has denied that it would hand...

President Donald Trump said U.S. enterprise software giant Oracle is “a great company” when asked if if it would be a good buyer for TikTok. His endorsement for Oracle, co-founded by billionaire Larry Ellison, comes after reports that the Californian tech firm is interested in buying TikTok’s North America, Australia and New Zealand businesses from Chinese parent company ByteDance. Speaking at an event in Yuma, Arizona, Trump said: “Well, I think Oracle is a great company, and I think its owner is a tremendous guy. He’s a tremendous person. I think that Oracle would be certainly somebody that could handle...

Oracle Corp. is pulling the plug on its annual San Francisco technology convention, relocating the event to Las Vegas in a major blow to the city's hospitality industry. The Redwood Shores company has signed a three-year agreement to bring its OpenWorld convention to the Caesars Forum in Las Vegas, citing rising hotel rates throughout the Bay Area as well as poor street conditions in San Francisco. An Oracle spokesperson confirmed the deal, first reported by CNBC.

Oracle, a major Silicon Valley tech company, will move its annual OpenWorld conference to Las Vegas next year – over concerns about San Francisco’s hotel rates and the city’s “poor street conditions,” according to reports. The loss of OpenWorld, which has been held in San Francisco for about 20 years, is raising new concerns about whether the city’s struggles with homelessness, open drug use and street violence may be scaring off tourism and other business, the San Francisco Chronicle reported. “For the industry, for the city, to have a major conference leave us impacts all of us,” Kevin Carroll, chief...

Not only did Redwood City software titan Oracle favor hiring Asians for key departments, it favored non-citizen Asian graduates of U.S. colleges over American graduates, the federal government claimed in a lawsuit. The Department of Labor alleges in its suit against Oracle that a “vast majority” of the firm’s hires through its college recruiting program were non-citizen visa holders from Asia.

Along the south shore of Lady Bird Lake east of Interstate 35, Oracle has built a new campus that will eventually house 10,000 employees. At the end of 2015, one of the world's largest software companies announced it was expanding in Austin with the construction of a 565,000-square-foot campus located on South Lakeshore Boulevard just west of South Pleasant Valley Road, that sits on 40 acres of waterfront property. "We wanted to be in downtown Austin on the river and specifically I wanted to be in downtown Austin on the river because I thought it would be great to take...

Multiple sources alleged in a report that National Security Advisor H.R. McMaster openly mocked President Donald Trump at a dinner with Oracle CEO Safra Catz, calling him an “idiot” and suggesting that he had the intelligence of a “kindergartner.” Additionally, a sixth source stated that this was not a one time thing, alleging that McMaster often derides Trump’s intelligence level in private, suggesting that he does not have the mental acumen to understand matters pertaining to National Security Council. “[Catz] said the conversation was so inappropriate that it was jaw dropping,” an unnamed source has stated. While we wait for...

Oracle Corp. is hiring another 5,000 employees for its cloud software business as it fights Salesforce.com Inc. for market share in the fast-growing industry. The hiring surge aims to beef up what’s already Oracle’s fastest-growing business, increasing revenue by 58 percent in the quarter it reported June 21 compared with a year earlier. The move is the latest in a back-and-forth between Oracle and its main rival that last week saw Salesforce Chief Executive Officer Marc Benioff bragging he was on track to generate $10 billion in cloud revenue this year, a goal Oracle was trying to hit first. It...

The U.S. Labor Department accused Oracle on Wednesday of wage discrimination in favor of white men and of hiring discrimination in favor of Asian Americans, in a lawsuit that could cut off federal contract dollars to the Redwood City technology giant.

Julie BortDecember 20, 2016 There's an awful lot of angst in the tech industry about what a Donald Trump administration will do, and if he'll follow through on some of the more divisive promises he made on the campaign trail. On Tuesday, an Oracle employee working on the company's all-important cloud business publicly quit the company via a letter posted to LinkedIn. George Polisner was protesting Oracle CEO Safra Catz's decision to join Trump's transition team. Catz was part of a room full of tech industry leaders that met with the president-elect last week at Trump Tower in New York....