NPR: The U.S. is formulating a plan to transfer control of TikTok to Oracle.

Sources from the publication revealed that the Chinese company ByteDance, which owns TikTok, will retain a minority stake. Meanwhile, the app's algorithms, data collection, and software updates will come under Oracle's control.

According to one NPR source, ByteDance "will not disappear completely," but the level of Chinese influence will be minimized.

Negotiations are ongoing, and the terms of the agreement may still change. On January 24, representatives from Oracle and the White House discussed the details of a potential deal, and another meeting is reportedly scheduled for next week.

In the spring of 2024, the U.S. House of Representatives passed a law stating that TikTok could be banned if it remains owned by ByteDance. Congress deemed that the app poses a national security threat, as the Chinese government could compel ByteDance to hand over data from American users.

Former U.S. President Joe Biden signed the law in April of last year, and in January, just days before Donald Trump's inauguration, the U.S. Supreme Court upheld it. The law took effect on January 19.

On January 20, the day of the inauguration, Trump issued an order directing the Attorney General to delay the law's implementation for 75 days. This period is intended to allow the administration to develop a new approach that will protect national security without blocking TikTok.

According to Bloomberg, Chinese authorities are considering transferring control of TikTok in the U.S. to billionaire Elon Musk, but representatives of the app have categorically rejected such a prospect.