Oracle Warns That a TikTok Ban Would Dent Revenue and Profit.

Oracle Corp. has warned investors that a potential ban on TikTok in the US could negatively impact its financial results. A law signed by President Joe Biden in April could make it illegal to provide internet hosting services to TikTok unless certain conditions are met. Compliance with the law may increase expenses for Oracle, and the company could lose a significant portion of revenue associated with hosting TikTok's US business. TikTok currently uses Oracle's cloud infrastructure to store and process US user data. The law gives TikTok 270 days to find a buyer or face a ban in the US. [Extracted from the article]