CNN reports that Oracle will oversee TikTok’s U.S. algorithm if a pending deal transferring the app’s American operations to majority U.S. ownership is completed. (Reuters File)
Share
|
Getting your Trinity Audio player ready...
|
CNN reports that Oracle will oversee TikTok’s U.S. algorithm if a pending deal transferring the app’s American operations to majority U.S. ownership is completed, the White House confirmed Monday.
The agreement would give a U.S.-based joint venture control of TikTok’s operations, including a copy of the algorithm, with Oracle and private equity firm Silver Lake among the investors. ByteDance, TikTok’s China-based parent, would retain less than a 20% stake.
President Donald Trump said tech and media leaders, including Michael Dell and Fox Corp., could join the new ownership group.
U.S. officials emphasized the algorithm would be retrained on American user data and continuously monitored by Oracle to address national security concerns.
Trump is expected to sign an executive order declaring the transaction a qualified divestiture and extend enforcement of the TikTok ban-or-sale law to allow completion, likely early next year.
