ByteDance has not responded to a request for comment. TikTok declined to comment.
Oracle did not respond to a request for comment.
Trump and other US politicians have said the app poses a threat to national security. TikTok has denied the allegation.
The agreement with Oracle comes days before a ban on TikTok in the United States was scheduled to go into effect. After September 20, the Commerce Department is expected to clarify which types of business dealings involving TikTok will be prohibited in the country, according to an executive order Trump signed August 6.
It’s not clear whether TikTok’s partnership with Oracle would allow the short-form video app to avert that ban. In another executive order, Trump said TikTok had until November 12 to find a buyer.
Separately, a TikTok employee has challenged the looming ban in federal court and is seeking a judicial decision to suspend the August 6 executive order. A hearing to consider the plea is scheduled for Tuesday. TikTok has also sued the Trump administration over one of the orders, calling it “heavily politicized.”
Multiple analysts had described Microsoft’s pursuit of TikTok as a potential “coup” for the Washington state-based firm — an opportunity to scoop up one of the world’s fastest growing social media platforms at a time when TikTok may be desperate to make a deal.
Walmart on Sunday told CNN Business that it “continues to have an interest in a TikTok investment and continues discussions with ByteDance leadership and other interested parties.”
“We know that any approved deal must satisfy all regulatory and national security concerns,” the company said in a statement.
— Clare Duffy, Donie O’Sullivan and Sherisse Pham contributed to this report.