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Oracle stock rises as White House names software giant in TikTok deal; company announces CEO shakeup

Oracle (ORCL) stock rose 3% Monday as the White House confirmed that the software giant is part of a consortium of investors that will control TikTok's US operations. The company also separately announced a CEO shakeup. On Monday morning, a senior White House official confirmed the details of the TikTok deal to reporters, including most notably that the deal will move TikTok US operations into a new joint venture based in the United States, with American investors in control with a majority of the ownersh ...