WASHINGTON – Oracle, a leading technology company, is set to acquire a copy of TikTok’s algorithm to manage operations for U.S. users, as announced by a top official from President Donald Trump’s administration on Monday.
The fate of the algorithm, which is currently under the control of ByteDance, a company based in Beijing, has been at the heart of ongoing negotiations over TikTok’s future.
The administration official, who wished to remain anonymous while discussing the developing agreement, expressed confidence that this arrangement would address national security concerns about a Chinese firm’s potential influence over content seen by platform users.
Specific details regarding the investors remain undisclosed, but it has been confirmed that the private equity firm Silver Lake is among those involved.
When President Joe Biden, a Democrat, was about to leave office, he enacted bipartisan legislation mandating ByteDance to divest its assets to a U.S. company or risk a ban.
President Trump, a Republican, has pushed back the deadline multiple times to strike a deal ensuring TikTok’s availability. On Friday, he communicated with China’s President Xi Jinping.
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