In this articleORCL your favorite stocksCREATE FREE ACCOUNTCheng Xin | Getty ImagesThe framework agreement for the social media platform TikTok will include new investors as well as existing investors in the platform's Chinese parent company ByteDance, sources told CNBC's David Faber.The deal is expected to close in the next 30 to 45 days, according to the sources, who asked not to be named because the details of the negotiations are confidential.
As part of the agreement, Oracle will keep its cloud deal with the platform, the people said."Where this thing is capitalized and how large it is remains to be seen," Faber said Tuesday on CNBC's "Squawk on the Street." "'I'm hearing it's actually going to be relatively small in terms of the actual size of the checks that are written for the entity itself, and it will not be something that is going to go public at some point."The White House, TikTok and Oracle did not immediately respond to CNBC's request for .Read more CNBC newsMeta Connect 2025: AI-powered smart glasses take center stageTesla's stock erases loss for the year, soaring 85% from April lowBessent: TikTok deal 'framework' reached with China, Trump and Xi will finalize it FridayChina says Nvidia violated anti-monopoly law after preliminary beTikTok's future in the U.S.
has been uncertain since 2024, when Congress passed a bill that would ban the platform unless ByteDance divested from U.S. operations.
Lawmakers had grown concerned that the Chinese government could access sensitive data from American users or manipulate content on the platform.Deal talks have dragged, with President Donald Trump extending the deadline three times since taking office in January.
The new details the deal come after U.S. Treasury Secretary Scott Bessent said Monday that the U.S.
and China have reached a "framework" deal for TikTok.Bessent said Tuesday that commercial terms had been in place since March or April, but the Chinese put it on hold after Trump's "liberation day" tariff blitz.Oracle has been floated as a potential investor or buyer of TikTok for months.Reuters reported in January that the White House picked Oracle to handle TikTok's data collection and software as part of a deal.Trump has previously said he'd be open to Oracle Chairman Larry Ellison buying TikTok in the U.S.Don’t miss these insights from CNBC Nobel winner Joseph Stiglitz has a warning for bond investorsAs traditional 60/40 portfolios get riskier, BlackRock says investors should rethink their allocationsGoldman adds Walmart to September 'conviction list.' Here's who else made the cutNvidia retail buyers are getting exhaustedWATCH: Faber Report: TikTok deal is close, sources saywatch now1:3801:38Faber Report: TikTok deal is close, sources saySquawk on the Street