The Trump administration on Friday opted not to grant ByteDance a new extension of an order requiring it to divest TikTok’s U.S. assets. However, the talks will continue over TikTok’s fate. Last week, the administration granted ByteDance a one-week extension until Friday over the order to shed TikTok’s U.S. assets. President Trump in August gave orders to enforce the divestiture order once the deadline expired, but it is unclear when or how the govt may seek to compel divestiture.
The US Justice Department said it will announce “charges and arrests related to computer intrusion campaign tied to the Chinese government”. The White House national security advisor Robert O’Brien said last month that Chinese govt-linked hackers have been targeting US election infra ahead of the upcoming presidential election. China has consistently denied US govt claims that it hacks US firms, politicians, govt agencies.
White House is rolling out $1 bn investment into Artificial Intelligence and quantum computing to make “world-class hubs for accelerating American innovation and building the 21st-century American workforce”. The Trump administration, last year, issued an executive order to bolster U.S. dominance in AI. The fund will be used in R&D hubs linked to federal agencies to “pursue transformational advances” in quantum computing, ML and computer vision.
The deal between ByteDance and Microsoft, for the sale of former’s TikTok business in the USA, has been put on hold after the USA president said that he would not allow the deal to go through and being intent on a ban. Microsoft, under the deal, was to take control of the data of US-based users and allowed another company to operate TikTok in the US. ByteDance bid to retain a minority stake was abandoned after the White House rejected the proposal.
Microsoft, as per a Wall Street Journal report, is all set to acquire the US business of controversial yet popular app Tik Tok. This has come at a time when the US President may anytime sign an executive order banning the Chinese app anytime due to national security concerns. Satya Nadella-led Microsoft could complete the deal by Monday. Representatives from Microsoft, Bytedance and the White House are involved in the negotiation, said the report.