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.

Oracle and other investors have a deal with TikTok parent ByteDance to own the video app's U.S. operations. But we don't know all the details yet.

ByteDance Ltd. is on track for profits of roughly $50 billion in 2025, capping a record year for a Chinese social media leader making major inroads into e-commerce and new markets.The Beijing-based parent company of TikTok is on track to hit that milestone after amassing net income of about $40 billion over the year’s first three quarters,

The TikTok owner has announced higher bonuses, wider pay bands and faster equity payouts as it seeks to stay competitive in the global talent race.

TikTok CEO Shou Chew also told employees that ByteDance signed binding agreements to create a joint venture majority-owned by American investors including Oracle Corp, according to a reviewed memo.

TikTok owner ByteDance has agreed a deal to hand control of the video-sharing platform’s US operations to a group of investors, and avoid a ban. The Chinese company has signed a legally binding contract that will see TikTok US operated by a joint venture (JV) led by Oracle.

ByteDance has signed agreements to transfer control of TikTok's U.S. operations to investors like Oracle, avoiding a potential U.S. ban. The new venture, valued at $14 billion, will see Oracle, Silver Lake,

The TikTok deal, signed pursuant to an executive order signed by US President Donald Trump on Sept. 25, specifies that the new JV will be majority-owned by US investors, governed by a new seven member majority-US board of directors, and subject to terms that protect local users' data and the country's national security.

Oracle, Silver Lake, and Abu Dhabi’s state-owned investment firm MGX each plan to take a 15% stake. ByteDance will retain 19.9%.