The sale of TikTok has a hiccup. The app’s core algorithms, basically what make TikTok tick, may be excluded from the deal, according to a Wall Street Journal report.
The Chinese government issued new restrictions on Friday that clouded the export of artificial-intelligence technology. TikTok parent ByteDance Ltd. is trying to get clarity on how to proceed; bidders are concerned that the app’s value is significantly less without the algorithms and its value is limited to its user base.
The company’s Bejing fact-finding mission means hopes of an imminent deal have been dashed. The Trump administration ordered Bytedance to sell the platform’s U.S. operations by mid-September. The pairing of Microsoft and Walmart, and an Oracle-led consortium remain the interested bidders for the app, which is expected to fetch around $30b. Stay tuned.
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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