President Trump announced the identification of a potential buyer for TikTok, owned by ByteDance. Although he withheld the buyers' names for a couple of weeks, Bloomberg reported a group of investors from Oracle, Blackstone, and Andreessen Horowitz (a16z). Their bid reportedly lost momentum due to escalating tensions between the U.S. and China linked to Trump's tariff proposals. Oracle has been actively working with TikTok on Project Texas, aimed at ensuring the secure storage of U.S. user data on American soil.
President Trump stated in an interview that he found a potential buyer for TikTok, a ByteDance-owned platform, without disclosing their identities yet.
Bloomberg reports that the interested buyers include investors from Oracle, Blackstone, and VC firm Andreessen Horowitz, although their bid lost momentum.
The tensions between the U.S. and China, particularly due to Trump's tariff proposals, have affected the interest in the TikTok sale.
Oracle is involved with TikTok through its Project Texas initiative, focusing on storing U.S. user data domestically.
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