Leading tech companies experienced a massive selloff over the last several weeks, with more than one trillion dollars erased from their combined market valuations as investors expressed concern over ballooning AI expenditures.
China’s TikTok announced Thursday that it has finalized an agreement to spin off its American operations into a new joint venture, ending years of uncertainty over the platform’s future in the United States.
Michael Burry, the investor who gained fame for his role in “The Big Short,” has recently accused major technology companies of using aggressive accounting tactics to artificially boost their earnings amidst the AI boom. The fresh accusations come shortly after Burry went public with claims of an “AI bubble.”
As TikTok’s U.S. business faces a potential sale to Oracle and a group of investors, concerns are growing about the future of the app’s powerful content-recommendation algorithm.
Security firms Mandiant and Google are investigating a new extortion campaign targeting top executives at multiple companies, with emails claiming sensitive data was stolen from their Oracle E-Business Suite systems.
President Donald Trump signed an executive order on Thursday approving a proposed deal that would allow TikTok to continue operating in the United States. The deal is not final until China agrees to it — but details of the new operation are taking shape.
President Donald Trump signed an executive order Wednesday approving a deal to allow TikTok to continue operating in the United States, as the Chinese app becomes majority-owned by American interests in a new joint-venture company.
Oracle will recreate and secure TikTok’s recommendation algorithm for the U.S. market as part of the popular Chinese-owned app’s sale to a group of American investors, according to a Bloomberg report.
A consortium of investors including Oracle, Silver Lake, and Andreessen Horowitz, is nearing a deal to take control of TikTok’s U.S. operations, as President Trump extends the deadline for banning the app to December 16.
Welcome to the inaugural Friday Wrap, our weekly survey of the economy, Wall Street, Silicon Valley, and the bureaucrats who pretend they can read the future by staring at spreadsheets.
China’s TikTok is reportedly planning to launch a new app tailored specifically for U.S. users in September as the company seeks to address national security concerns and comply with federal legislation. The move could signal that Tiktok’s Chinese parent company ByteDance is close to selling its American operations to comply with federal legislation.
Several major tech companies are helping fund the festivities surrounding President Trump’s upcoming military parade in Washington, DC, this weekend.
Engineers from software giant Oracle mistakenly triggered a five-day software outage at hospitals in the Community Health Systems system, forcing the facilities to temporarily revert to paper-based patient records. According to trade publication Becker’s Hospital Review, 45 hospitals were impacted by the epic tech blunder.
President Donald Trump is set to meet with his top White House officials on Wednesday to address the fate of China’s popular TikTok app.
As multiple stakeholders scramble to resolve national security concerns while preserving TikTok’s operations in the US, Perplexity AI has revised its merger proposal to TikTok parent ByteDance, potentially giving the U.S. government a 50 percent stake in the new company upon a future IPO.
President Donald Trump announced Tuesday that three major tech executives are teaming up to invest half a trillion dollars in American artificial intelligence infrastructure.
Larry Ellison, the billionaire co-founder of Oracle, believes that artificial intelligence will enable a vast surveillance system capable of monitoring citizens and ensuring they remain on their “best behavior.”
The DOJ says China’s TikTok sent very personal U.S. user data to the Chinese Community Party, and allowed the app’s users to be profiled based on their attitudes towards topics like gun control and abortion.
Despite the U.S. government’s efforts to prevent advanced AI chips from falling into the hands of Chinese companies, some American corporations are finding ways to circumvent these restrictions. Oracle in particular has reportedly helped China’s TikTok by “renting” AI chips to the communist social media company.
Larry Ellison, founder and CEO of the tech empire Oracle, has announced the company will be moving its headquarters from Austin, Texas, to Nashville, Tennessee.
China’s TikTok said it has spent $1.5 billion developing an operation meant to convince U.S. lawmakers that it is safe for Americans to use the app. The company’s executives have also promised to wall-off U.S. user data and bring in engineers and third parties to verify the algorithm functions without interference from the Chinese Communist regime. TikTok, however, has so far failed to live up to its promises.
Oracle co-founder Larry Ellison is set to donate tens of millions of dollars to back Sen. Tim Scott (R-SC) for president in 2024, according to reports.
Paul Fitzpatrick, the president of the 1792 Exchange, told Breitbart News Daily that the foreign disinformation advocacy organization Global Disinformation Index possibly changed some elections’ outcomes because it chokes off information.
Oracle, an international technology giant known for its cloud and enterprise products, has cut ties with the Global Disinformation Index (GDI), the UK-based, State Department-funded group that advised advertisers to blacklist conservative media.
Users of the China-owned social media platform TikTok would still risk having personal data exposed to hacking and espionage by China — even if the U.S. government sets up a security agreement designed to prevent the platform from being banned, former national security officials and other experts say.
The deal for TikTok’s American operations with Oracle and Walmart has been put on hold indefinitely by the Biden White House, according to the New York Times.
A coalition of tech and health organizations including Oracle, Microsoft, and the Mayo Clinic, is reportedly working to develop a digital COVID-19 vaccination passport that would allow businesses, airlines, and governments to check if individuals have received the vaccine.
Oracle, a $39 billion-a-year tech behemoth, announced it is moving its headquarters from California’s Silicon Valley to Austin, Texas.
The Chinese-owned social media firm TikTok has asked a federal appeals court to void the Trump administration’s order demanding that the company divest its operations in the U.S. TikTok’s Chinese parent company claims the order violates its Constitutional rights.
The federal government appealed a judge’s ruling on Thursday that prevented the Trump administration from imposing a ban on the Chinese-owned app TikTok over national security concerns.
A recent report from Wired magazine states that almost 95 percent of donations from employees at Silicon Valley tech giants went to Democratic presidential nominee Joe Biden. Donations to Biden from the employees of Big Tech companies have been double those to Hillary Clinton in 2016.
Last week, Chinese Communist state media were hailing a prospective deal between Chinese company ByteDance, Oracle, and Walmart for control of the TikTok social media platform as a huge win for ByteDance and China, and a crushing defeat for President Donald Trump — The terms of the deal, however, changed a little over the ensuing week, prompting Chinese media to denounce it as “highway robbery” on Friday.
ByteDance, the Chinese parent company of video-sharing app TikTok, has requested a temporary block on a ban of the app by the Trump administration. A U.S. judge has now ordered the federal government to defend the ban on Friday afternoon, or delay the blacklisting scheduled for Sunday.
A recent report states that Attorney General William Barr remains unconvinced that a recently announced partnership between the Chinese-owned social media app TikTok and U.S. companies Oracle and Walmart will safeguard user data from Chinese spying.
The Chinese-owned video-sharing app TikTok recently laid out a partnership with U.S. companies Oracle and Walmart in a deal that has delayed the banning of the app for American users — here are five key facts about the deal currently pending government approval.
A recent report shows that tensions between TikTok and its potential U.S. partner, Oracle, have risen as a debate over the ownership structure of the potential U.S.-based corporation continues.
Chinese state media trumpeted this weekend’s tentative deal between China’s ByteDance and U.S. companies Oracle and Walmart for control over the social media platform TikTok as a major victory for the Chinese firm against “U.S. hegemonic suppression.”
TikTok’s parent company, ByteDance, has emphasized that it will remain in control of the TikTok Global business which appears to contradict President Trump’s recent statement that the entity will be direct by Americans and pay a $5 billion fee to the U.S. government.
“I have given the deal my blessing,” Trump told reporters as he left the White House for a rally in North Carolina. “If they get it done that’s great. If they don’t, that’s ok too, but it’s a great deal for America.”
China’s state-run Global Times on Thursday praised “defiant” ByteDance, parent company of the video microblogging platform TikTok, for refusing to sell full control of the platform to an American company to avoid getting banned by the Trump administration.
