US-RUN TIKTOK TO LICENSE ALGORITHM, WHITE HOUSE SAYS

Summary from the TLDR newsletter

Oracle will oversee the security of Americans' data and monitor changes and updates to TikTok's recommendation technology under a new deal. A copy of the recommendation engine that powers the app will be licensed from China to an American investor group that will oversee the app in the US. Oracle, along with private equity firm Silver Lake, will also invest in the new American TikTok. The US-run TikTok will work to retrain the algorithm on users' data in the US. China will not have access to the data.