A new U.S.-based joint venture would keep TikTok online while handing oversight of its algorithm and data security to some of America’s wealthiest investors.

TikTok signs deal to sell U.S. operations to American investors including Oracle and Silver Lake, ending years-long battle over ByteDance ownership.

The deal won't do "a thing to protect the privacy of American users," said Senate Democrat Ron Wyden of Oregon, who voted against the 2024 bill. "It's unclear that it will even put TikTok's algorithm in safer hands."

In a memo to staff reviewed by Reuters, TikTok CEO Shou Zi Chew confirmed that all US data “will be stored in a trusted and secure cloud environment in the United States run by Oracle,” with Oracle ultimately responsible for safeguarding US data.

TikTok CEO Shou Chew says the long-awaited creation of a joint venture to oversee the U.S. part of the China-based video platform will happen in January.

In September, President Donald Trump signed an executive order extending the TikTok ban through Jan. 23, 2026.

During Semafor’s Mixed Signals podcast, Instagram head Adam Mosseri said TikTok is “very much applying lessons they’ve learned in China to the rest of the world:” > Super apps, which are very popular in China,

Since October, there has been no formal word on a deal between the Trump administration and China over the app.