#oracle

#oracle

With Donald Trump expected to sign a deal that will keep TikTok operating in the U.S., many have speculated who might benefit the most if/when this takes place. Among the biggest potential winners is Oracle (ORCL), with the company set to oversee the algorithm of the social media platform and keep the data protected from would-be hackers.

The question arises not just because Oracle recently announced that two executives are the company's new CEOs, succeeding Safra Catz, who had been CEO or co-CEO for the past 11 years. Making the succession more intriguing, Catz has been elevated to the board of directors with a previously unheard-of title, while founder Larry Ellison continues as chairman of the board and chief technology officer, but with duties that are by no means transparent.

Cloud infrastructure giant Oracle is looking to raise $15 billion through corporate bond sales, according to reporting from Bloomberg, citing sources. The sale could include up to seven different parts, with the potential for one said part to be an uncommon 40-year bond, Bloomberg reported. TechCrunch reached out to Oracle for more information. This report comes just a few weeks after Oracle reportedly signed a sizable deal with OpenAI to supply the AI research lab with $300 billion worth of compute.

Oracle has appointed two new co-CEOs, as part of a succession plan put into motion months ago. Business Insider reported in June that Oracle had promoted cloud boss Clay Magouyrk and head of industries Mike Sicilia to the title of "president" as part of a succession plan, citing SEC filings and people familiar with the plans. Safra Catz, CEO since 2014, will become executive vice chair of the company's board of directors, the company announced. Larry Ellison, cofounder and former CEO, will continue as chief technology officer and executive chairman.

Oracle is shaking up its executive suite as it sets its sights set on AI infrastructure dominance. The company announced Monday that it is promoting Clay Magouyrk and Mike Sicilia to co-CEO roles. Magouyrk joined Oracle in 2014 from Amazon Web Services. He was a founding member of Oracle's cloud engineering team and has served as the president of Oracle's cloud infrastructure business unit for more than a decade.

SAP has proposed concessions to the European Commission to address competition concerns. The German company hopes that these proposals will prevent a costly investigation. This is according to sources at Reuters. Without an agreement, the company risks a fine of up to 10 percent of its annual global turnover. For a company the size of SAP, that could amount to several billion euros.

This article will be updated throughout the day, so check back often for more daily updates. Further details are leaking out regarding the weekend negotiations between U.S. and Chinese trade representatives, especially as regards the future (or lack thereof) of TikTok in America. According to one report, Oracle ( NYSE: ORCL) may lead a consortium of U.S. companies that would acquire TikTok's U.S. operations to enable the currently-Chinese-owned video sharing company to continue operating in the U.S.

Around 70 members of the team behind the open source database have been shown the door as part of Oracle's latest round of redundancies, according to one high-level source in the MySQL community. Michael "Monty" Widenius, who co-authored the original MySQL in the 1990s, posted that he was "Heartbroken to hear about the widespread layoffs at MySQL last week, and while I'm not surprised that Oracle is going in this direction with MySQL, it still saddens me that it's come to this."