Oracle Corp is among a consortium of firms that would enable TikTok to continue operations in the US if a framework deal between the US and China is finalized, CBS News reported on Monday.
Reuters could not immediately confirm the report.
The precise structure of the deal was not clear, the report said, adding that the deal would include multiple companies.
Photo: Reuters
The White House, Oracle, TikTok and the Chinese embassy in Washington did not immediately respond to requests for comments outside regular business hours.
US and Chinese officials earlier on Monday said that they have reached a framework agreement to switch TikTok to US-controlled ownership that would be confirmed in a Friday call between US President Donald Trump and Chinese President Xi Jinping (習近平).
After a meeting with Chinese negotiators in Madrid, US Secretary of the Treasury Scott Bessent said a deadline for today that could have disrupted the popular social media app in the US encouraged Chinese negotiators to reach a potential deal.
He said that deadline could be extended by 90 days to allow the deal to be finalized, but declined to discuss any specifics.
A potential deal for TikTok involving Oracle could require approval by the Republican-controlled US Congress, which passed a law last year requiring divestiture due to fears that TikTok’s US user data could be accessed by the Chinese government, allowing Beijing to spy on Americans or conduct influence operations through the app.
The popular short video social media app has 170 million US users.
SEMICONDUCTOR SERVICES: A company executive said that Taiwanese firms must think about how to participate in global supply chains and lift their competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it expects to launch its first multifunctional service center in Pingtung County in the middle of 2027, in a bid to foster a resilient high-tech facility construction ecosystem. TSMC broached the idea of creating a center two or three years ago when it started building new manufacturing capacity in the US and Japan, the company said. The center, dubbed an “ecosystem park,” would assist local manufacturing facility construction partners to upgrade their capabilities and secure more deals from other global chipmakers such as Intel Corp, Micron Technology Inc and Infineon Technologies AG, TSMC said. It
People walk past advertising for a Syensqo chip at the Semicon Taiwan exhibition in Taipei yesterday.
NO BREAKTHROUGH? More substantial ‘deliverables,’ such as tariff reductions, would likely be saved for a meeting between Trump and Xi later this year, a trade expert said China launched two probes targeting the US semiconductor sector on Saturday ahead of talks between the two nations in Spain this week on trade, national security and the ownership of social media platform TikTok. China’s Ministry of Commerce announced an anti-dumping investigation into certain analog integrated circuits (ICs) imported from the US. The investigation is to target some commodity interface ICs and gate driver ICs, which are commonly made by US companies such as Texas Instruments Inc and ON Semiconductor Corp. The ministry also announced an anti-discrimination probe into US measures against China’s chip sector. US measures such as export curbs and tariffs
The US on Friday penalized two Chinese firms that acquired US chipmaking equipment for China’s top chipmaker, Semiconductor Manufacturing International Corp (SMIC, 中芯國際), including them among 32 entities that were added to the US Department of Commerce’s restricted trade list, a US government posting showed. Twenty-three of the 32 are in China. GMC Semiconductor Technology (Wuxi) Co (吉姆西半導體科技) and Jicun Semiconductor Technology (Shanghai) Co (吉存半導體科技) were placed on the list, formally known as the Entity List, for acquiring equipment for SMIC Northern Integrated Circuit Manufacturing (Beijing) Corp (中芯北方積體電路) and Semiconductor Manufacturing International (Beijing) Corp (中芯北京), the US Federal Register posting said. The
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