""very confident that we have successfully separated [TikTok US] from TikTok global and actually made it so that we can control people's data security [and] ensure that the algorithm is not being used as a propaganda tool by a foreign government." The Vice President also confirmed that TikTok US will be valued at $14 billion in a transaction that will see Oracle ( NYSE: ORCL), private-equity firm Silver Lake, and Abu Dhabi-based MGX investment fund take significant stakes in the company,"
"EA stock is up more than 5%. Finally, investors are starting to get antsy now as the federal government is set to shut down - absent passage of a continuing resolution to keep it funded - at midnight tomorrow. For now, the stock news seems to be top of mind with investors, however, and the Vanguard S&P 500 ETF ( NYSEMKT: VOO) is up 0.6% premarket."
Vice President JD Vance said he is very confident that TikTok US has been separated from TikTok Global, enabling control of user data and preventing algorithm use as foreign government propaganda. TikTok US will be valued at $14 billion, with Oracle, Silver Lake, and Abu Dhabi-based MGX taking significant stakes while ByteDance’s share drops below 20%. General Atlantic, Susquehanna, and Sequoia will also hold stakes; the U.S. government will not. Oracle shares rose 0.9% premarket. Electronic Arts agreed to a $55 billion all-cash go-private deal with PIF, Affinity Partners, and Silver Lake, lifting EA shares over 5%. Investors face a possible federal government shutdown at midnight without a funding resolution. CICC initiated Take-Two coverage with an outperform rating, and Barclays began coverage of Oklo with an overweight rating.
Read at 24/7 Wall St.
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