A group comprising Oracle Corp., Andreessen Horowitz, and Silver Lake Management LLC is set to acquire TikTok’s U.S. operations, in a deal that President Donald Trump plans to discuss with Chinese President Xi Jinping this week.
The agreement, revealed by senior US and Chinese officials, would establish a US-based version of the popular social media app, with the three companies—Oracle, Andreessen, and Silver Lake—each holding stakes in the new short-video app venture.
In an interview Wednesday, Treasury Secretary Scott Bessent stated, “This deal would not be done without proper safeguards for US national security. It seems as though we were also able to meet the Chinese interest” specific terms of the agreement remain unclear, however, President Trump said “we made a very good trade deal, and I hope good for both countries”.
This new agreement, negotiated over more than a year, will enable TikTok to continue serving US users, but it strips ByteDance of control over a crucial international asset.
Oracle already collaborates with TikTok by hosting user data in the US and other countries through a multibillion-dollar partnership known as “Project Texas.”
Once the agreement is finalized, the app’s users would reportedly migrate to a new platform.
By CEO NA Editorial Staff
