Summary
Oracle will manage the TikTok algorithm for U.S. users under a deal organized by the Trump administration. This adjustment aims to address security concerns about the Chinese company ByteDance's influence on U.S. users of the platform.
Key Facts
- Oracle will receive a copy of TikTok's algorithm for U.S. users.
- The algorithm is currently owned by ByteDance, a company based in China.
- The U.S. government had concerns about a Chinese company influencing American users.
- A senior Trump administration official discussed the deal but wanted to stay anonymous.
- President Joe Biden previously signed a law requiring ByteDance to sell TikTok's U.S. assets.
- Private equity firm Silver Lake is part of the investment group involved in the deal.
- The Trump administration extended deadlines as it negotiated to keep TikTok in the U.S.
