The new agreement creates a US-based joint venture to run TikTok. US investors, including Oracle and Silver Lake, will hold the majority stake. ByteDance, TikTok’s Chinese owner, will keep less than 20% of the entity.

Vice President JD Vance said the TikTok US venture will be valued at $14 billion. He stressed that Americans’ data privacy will be protected. Users’ information will no longer be used for foreign propaganda.

Vance added that American investors will control TikTok’s algorithm. Business decisions will be made in the United States. The deal allows Americans to continue using the app while protecting their data.

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The announcement follows Nvidia’s $100 billion investment, which gives OpenAI access to roughly 10 gigawatts of AI data centers. This deal alone surpasses the GDP of some countries. Altman also launched Stargate, a $500 billion partnership with Oracle and SoftBank to build massive AI super-hubs in the U.S. The first site is under construction in Abilene, Texas, with five more locations planned, totaling nearly 7 gigawatts of capacity.

Experts have raised concerns about energy availability. Running such massive facilities requires enormous electricity, and the grid may not be ready. Brad Gastwirth of Circular Technology called energy the “silent bottleneck” for Silicon Valley’s AI projects. Producing a gigawatt each week is like powering a major city repeatedly, posing climate and infrastructure challenges.

Despite this, Altman remains optimistic. He sees the project as an opportunity to rethink infrastructure at a planetary scale. If successful, OpenAI will not only train larger AI models but also reshape how technology and energy intersect worldwide.

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In an interview on Fox News’ Sunday Briefing, Trump said, “Larry Ellison is involved. Michael Dell is involved. I hate to tell you this, but a man named Lachlan is involved. Rupert Murdoch is probably going to be in the group.” Reports indicate the Murdochs would participate through Fox Corporation, potentially strengthening its digital footprint as traditional television growth slows.

The proposed acquisition follows national security concerns over TikTok’s Chinese parent company, ByteDance. Lawmakers worry that American user data and the app’s algorithm could be accessed or influenced by Beijing. To address these risks, Congress passed a 2024 law requiring TikTok to sell approximately 80% of its US assets to American investors or face a nationwide ban, with enforcement deadlines extended to December 2025.

Since 2020, Larry Ellison’s Oracle has hosted TikTok’s US data and is expected to oversee the platform’s algorithm and data privacy under the new ownership. Michael Dell may also invest, and six of the seven board members of the US TikTok entity would reportedly be Americans, ensuring closer domestic control.

With major figures from both the technology and media industries now involved, the TikTok US buyout could reshape the app’s American operations and data governance, while keeping national security and user privacy at the forefront.

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By the close of trading, Oracle’s stock cooled, trimming Ellison’s gains. This allowed Musk, who had held the crown for nearly a year, to reclaim his top spot. Still, the brief switch highlighted how cloud infrastructure and AI growth are reshaping fortunes across the tech world.

Ellison, now 81, co-founded Oracle in 1977 and built it into a global database giant. He remains Oracle’s chairman and CTO, with the company projecting 77% growth in cloud revenue this year. AI firms have been racing to secure Oracle’s data centers, further fueling investor optimism.

Beyond business, Ellison stays in the headlines for politics and media. A close ally of Donald Trump, he recently joined Sam Altman and Masayoshi Son in launching “Stargate,” an AI project. He also funded his son’s $8 billion Skydance deal to acquire Paramount, cementing his family’s Hollywood influence.

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