Oracle Corp. has won the bidding war for the U.S. operations of the video-sharing platform, TikTok. Oracle beat out Microsoft in a high-profiled attempt to buy TikTok after President Trump signed an executive order banning the app from the U.S. under the ownership of China based ByteDance.
The terminology of the deal isn’t an outright sale but a “trusted tech partnership” according to the Wall Street Journal. The White House and the Committee on Foreign Investment to approve the deal.
The Wall Street Journal is reporting that China has restricted the sale of algorithms and certain tech such as the algorithm used by TikTok. It is unclear if Oracle will gain access to said algorithm.