Emerging reports suggest that Oracle, a prominent technology firm, is collaborating with a group of companies to ensure TikTok can continue its operations within the United States. This move is reportedly contingent on the finalization of a framework agreement between the U.S. and China, as initially reported by CBS News on Monday. However, specific details regarding the structure of this multi-company deal remain unclear.
Neither the White House, Oracle, nor TikTok have provided immediate comments in response to these reports.
Earlier on Monday, officials from both the U.S. and China announced a preliminary agreement. This accord aims to transition TikTok to U.S.-controlled ownership, with a confirmation expected during an upcoming Friday call between U.S. President Donald Trump and his Chinese counterpart, Xi Jinping.
Following a meeting with Chinese negotiators in Madrid, U.S. Treasury Secretary Scott Bessent indicated that a looming September 17 deadline, which posed a threat to the popular social media app’s presence in the U.S., played a crucial role in encouraging Chinese negotiators to reach this potential agreement. Bessent further stated that the deadline might be extended by 90 days to facilitate the comprehensive finalization of the deal, though he withheld specific details at this time.