A new U.S.-based joint venture, involving Oracle and Silverlake, will assume control of TikTok. This deal, described as a compromise meeting both U.S. and Chinese legal requirements, will see Oracle act as security provider, overseeing the algorithm and data storage. The U.S. government will not hold equity or a board seat. President Trump is expected to sign an executive order approving the deal, which includes a 120-day implementation period. This resolution addresses national security concerns regarding potential Chinese influence over TikTok's data.

Prepared by Jonathan Pierce and reviewed by editorial team.