US-TikTok deal: A new reality for China's tech champions?
AI Summary
Amid US national security concerns over potential Chinese government access to user data and algorithm manipulation, TikTok's parent company ByteDance has agreed to a deal splitting the US app from its global operations. This follows years of scrutiny, including a threatened US ban unless ByteDance relinquished majority ownership. Under the agreement, a new US-based consortium including Oracle will control TikTok's US operations, licensing the algorithm from ByteDance. While TikTok remains accessible to its 200 million US users, ByteDance loses control over the algorithm and data, and the US entity will retrain the algorithm on domestic data. The deal is seen as a compromise for ByteDance, highlighting challenges faced by Chinese tech firms expanding globally, and a potential bargaining chip in US-China trade negotiations.
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