Overview
- Oracle said a temporary weather-related power failure at one of its U.S. data centers caused the service issues that affected TikTok users over the weekend.
- TikTok and its U.S. joint venture reported significant progress restoring systems but warned that residual glitches, especially when posting new content, may persist.
- The disruption followed the creation of TikTok USDS Joint Venture LLC, a new structure in which U.S. and international investors hold 80.1% and ByteDance retains 19.9%, with Oracle, Silver Lake and MGX each at 15%.
- California Governor Gavin Newsom announced a review of TikTok’s moderation practices after his office said it confirmed instances of suppressed content critical of President Trump, a claim the joint venture denies.
- Market data indicated elevated user deletions in the U.S. in recent days, and Oracle shares fell about 4% on the outage news before a modest after-hours rebound.