US TikTok Deal News: Oracle to Secure App's Algorithm in Trump-Backed Deal

Core Points - Oracle will recreate and secure a new version of TikTok's algorithm, with US owners leasing a copy from Bytedance, while Oracle will monitor and operate the algorithm [1] - The deal aims to address national security concerns, but it remains uncertain if it will satisfy the national security law passed by Congress [2] - Bytedance is expected to retain less than a 20% stake in the new TikTok structure, with US investors, including Oracle, holding a majority [3] - Six out of seven board seats will be held by Americans, with the final seat occupied by Bytedance [3] - The deal is part of ongoing trade negotiations with Beijing, potentially facilitating a meeting between President Trump and Chinese President Xi Jinping [4]