US President Donald Trump is discussing the possibility of acquiring TikTok with various parties and plans to make a decision within 30 days, Reuters reports.
The White House is reportedly negotiating a plan under which Oracle and other investors would run TikTok's operations. ByteDance, TikTok's Chinese owner, would retain a stake, while Oracle would be responsible for data collection and software updates.
Potential investors include Susquehanna International Group, General Atlantic, KKR and Sequoia Capital. Details of the deal are still being discussed and talks will continue this week. The goal is to address congressional concerns and avoid banning TikTok under the recently passed law.
In addition, Perplexity AI has proposed a merger with TikTok, which involves the creation of a new company where the US government can receive up to 50% after an initial public offering worth at least $300 billion.
Businessman Frank McCourt has also announced his readiness to cooperate with other buyers to acquire TikTok's US operations, provided that he retains control. His proposal involves transferring TikTok's 170 million US users to its own platform.
By the way, this initiative comes on the heels of the announcement of a new joint venture called Stargate, which includes OpenAI, SoftBank, and Oracle, with investments of up to $500 billion in artificial intelligence infrastructure in the United States. The new project is aimed at strengthening America's leadership in artificial intelligence and reducing dependence on China.