"The official, who spoke to reporters on condition of anonymity, said the U.S. government would not take a stake or have a seat on the board. The new venture will get a copy of TikTok's most valuable asset, its content recommendation algorithm, which will then be re-trained on U.S. data, the official said. The software company Oracle will serve as the company's "security provider," overseeing things like how the algorithm works, how the app is updated and how Americans' data is stored."
"During an interview on The Sunday Briefing on FOX News Channel on Sunday, President Trump named Larry Ellison of Oracle, Michael Dell, founder of Dell Technologies, and Lachlan Murdoch, heir to Rupert Murdoch's media empire, as people who were also involved in the deal. The White House official declined to comment when asked about other investors. Oracle, Dell, Silverlake, and News Corp. did not respond to NPR's emailed requests for comment."
A U.S.-based joint venture with investors including Oracle and Silverlake will take control of TikTok. The venture will obtain a copy of TikTok's content recommendation algorithm and retrain it on U.S. data. Oracle will act as the company's security provider, overseeing the algorithm, app updates and the storage of Americans' data. The U.S. government will not take a stake or hold a board seat. The arrangement is presented as a legal compromise intended to meet both U.S. and Chinese law while preserving access for American users and protecting jobs and small businesses. Several named firms did not provide comment.
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