In the United States, TikTok will be operated by a board of directors with national security and cybersecurity credentials, one of the senior officials said. ByteDance will choose one director on the seven-member board, and that person will be excluded from TikTok’s security committee.

Congress has effectively banned TikTok in the U.S. based on national security concerns, telling TikTok's Chinese parent company ByteDance to divest or face a ban in the U.S., but Mr. Trump has paused its enforcement three times. Congress may still need to sign off on any finalized TikTok deal.

Oracle stock rose over 6% Monday as the White House confirmed that the software giant is part of a consortium of investors that will control TikTok's US operations. The company also separately announced a CEO shakeup.

Trump had extended the deadline multiple times via executive order amid efforts to keep TikTok available in the US.

White House says US companies will oversee TikTok’s algorithm and Americans will hold six of seven board seats for US operations. Oracle, chaired by T

The White House has named tech giant Oracle as the company that will power TikTok for U.S. users, with the app's algorithm being operated in the United States.A

President Trump is expected to approve a proposed deal this week that would ensure TikTok in the United States is majority-owned by American investors and keep user data in a "trusted" cloud in the U.