Oracle ( ORCL ) shares rose more than 6% in premarket trading to around $190 after Bloomberg reported that TikTok signed binding agreements to form a new U.S. joint venture led by Oracle that will help ease investor concerns about AI-driven valuation risks.
The upbeat reaction spread across risk assets. Bitcoin jumped above $88,000, Invesco QQQ ( QQQ ) futures, which track the performance of the Nasdaq-100, rose about 0.5%, while AI mining stocks also edged higher. IREN (IREN) rose about 4%, Cipher Mining (CIFR) rose by approx. 4%, and CoreWeave (CRWV) rose about 6%.
Oracle will play a central role as the primary cloud infrastructure and data security provider, overseeing where TikTok’s AI recommendation systems are retrained and run on US-based data.
Markets are treating the deal as validation that Oracle’s AI exposure is tied to real, large-scale workloads.
This matters because AI hyperscalers such as Oracle and CoreWeave have come under pressure in recent weeks, with share prices hit by fears about the sustainability of massive AI infrastructure spending and facing doubts about heavy debt-financed data center builds, delayed projects and partnerships.
The market’s attention now turns to US personal consumption (PCE) price index data after a macro-heavy week that included US inflation data, jobs numbers and a BOJ rate hike.
