TikTok Divest-or-Ban Deal

TikTok, Oracle and a consortium of U.S. investors have closed a deal to form TikTok USDS Joint Venture LLC — a U.S.‑based entity in which Oracle, Silver Lake and MGX each hold ~15%, ByteDance retains a 19.9% stake, the Dell family office is an investor, and the company will be led by CEO Adam Presser and governed by a seven‑member, majority‑American board that includes TikTok CEO Shou Chew. The agreement, reached as the Supreme Court‑backed divest‑or‑ban law took effect, mandates U.S. user data be stored in an Oracle‑run U.S. cloud, requires the recommendation algorithm to be retrained on U.S. data under defined safeguards and third‑party audits, and has prompted legal questions about ByteDance licensing its algorithm to the new U.S. entity; President Trump publicly praised the settlement.