News Summary

The Trump administration is actively negotiating a deal that involves Oracle taking over the global operations of TikTok, alongside a group of U.S. investors. This move is part of a broader strategy to rescue the app from a U.S. ban due to national security concerns about its Chinese parent company, ByteDance. Under the proposed agreement, Oracle would oversee data collection and software updates, while ByteDance retains a minority stake. The plan aims to appease lawmakers and ensure that ByteDance does not have covert control over the app. Microsoft has also been mentioned as a potential participant in the deal.