Leaders at Oracle , the main cloud computing provider for TikTok's U.S. operations, have told some staff to prepare to shut down servers that host U.S. TikTok data as soon as 9 p.m. ET on Saturday (0200 GMT on Sunday) in advance of a U.

TikTok is reportedly back online for many US users after the social media app went dark early Sunday when a new law banning the app took effect at midnight. The Chinese-owned service welcomed users back after a 12-hour shutdown,

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Canadian investor and Shark Tank star Kevin O’Leary is still interested in a TikTok deal, but it’s not possible under current law, he told CNBC.

Experts have indicated that common workarounds, such as VPNs, may not be effective due to the app's ability to detect user locations through geolocation data.

TikTok said Sunday it was beginning to restore service for US users after going dark overnight following a new law that effectively banned the app.

Nasdaq futures (NQ=F) are jumping this morning after President Trump announced Stargate, a push to help support AI growth in the United States. Among the big companies involved in the project are OpenAI,

TikTok began restoring its services on Sunday after President-elect Donald Trump said he would revive the app's access in the US when he returns to power on Monday.

Oracle (NYSE: ORCL), the cloud provider for TikToks U.S. operations, has reportedly instructed staff to prepare for shutting down servers hosting TikToks U.S. data. According to The Information, the shutdown could occur

The sharp move came as the S&P 500 and the Nasdaq Composite gained 0.7% and 1.3%, respectively. Oracle is at the heart of Project Stargate, the new artificial intelligence (AI) initiative announced by President Trump on Tuesday.

The stock was also trending after Trump reportedly said at event on Tuesday that he would be open to Oracle chairman Larry Ellison or Tesla ( TSLA) CEO Elon Musk purchasing social media app TikTok, as part of a joint venture with the US government.