News Summary

The ongoing negotiations surrounding the ownership of TikTok in the US have taken a significant step forward. The White House has indicated that a deal is imminent, transferring TikTok’s operations to a group of US investors. Oracle is set to license TikTok’s recommendation algorithm, expanding its management of the data collected from US users. This development follows a series of discussions between US and Chinese officials, including a conversation between Donald Trump and Xi Jinping, which were described as positive. The future of TikTok has been uncertain since Congress passed a law in 2024 requiring the app to find a US buyer, a decision upheld by the supreme court. The involvement of high-profile figures such as Larry Ellison and the Murdoch family highlights the complexity and significance of this transaction.