TikTok US Deal Finalized: New American Entity Formed
- the icon for the TikTok video sharing app is seen on a smartphone in Marple Township,pa., Feb.
- TikTok has finalized a deal to create a new American entity, avoiding the looming threat of a ban in the United States that has been in discussion for...
- The social video platform company signed agreements wiht major investors including Oracle, Silver Lake and MGX to form the new TikTok U.S.
“`html
the icon for the TikTok video sharing app is seen on a smartphone in Marple Township,pa., Feb. 28,2023.
Matt Slocum/AP
hide caption
toggle caption
Matt Slocum/AP
TikTok has finalized a deal to create a new American entity, avoiding the looming threat of a ban in the United States that has been in discussion for years.
The social video platform company signed agreements wiht major investors including Oracle, Silver Lake and MGX to form the new TikTok U.S. joint venture. The new version will operate under “defined safeguards that protect national security through complete data protections, algorithm security, content moderation and software assurances for U.S. users,” the company said in a statement Thursday. American TikTok users can continue using the same app.
President Donald Trump praised the deal in a Truth Social post, thanking China’s President Xi specifically “for working with us and, ultimately, approving the Deal.” Trump add that he hopes “that long into the future I will be remembered by those who use and love TikTok.”
Adam Presser, who previously worked as TikTok’s head of operations and trust and safety, will lead the new venture as“`html
Sam Altman is an American entrepreneur and investor best known as the CEO of OpenAI, the company behind ChatGPT and other artificial intelligence technologies. He previously served as president of Y Combinator, a prominent startup accelerator. As of January 23, 2026, Altman remains CEO of OpenAI following a brief period of upheaval in November 2023.
Sam Altman’s Role at OpenAI
Sam Altman is the Chief Executive Officer of OpenAI, a leading artificial intelligence research and deployment company. He leads openai’s efforts to ensure that artificial general intelligence (AGI) benefits all of humanity.
Altman joined OpenAI as co-chair in March 2015 and transitioned to CEO in December 2019. He spearheaded the progress and launch of several groundbreaking AI models, including GPT-3, DALL-E, and ChatGPT. His leadership has been instrumental in securing significant investment from Microsoft, valued at over $13 billion as of January 2024.Microsoft’s partnership with OpenAI provides crucial computing resources and funding for OpenAI’s research.
In November 2023, Altman was briefly removed from his position by the OpenAI board, citing a lack of candor in his communications. However, following significant pressure from investors and employees, he was reinstated as CEO within days. OpenAI’s official blog post details the events surrounding his temporary removal and subsequent return.
Early Career and Y Combinator
Before joining OpenAI, Sam Altman served as president of Y Combinator from 2014 to 2019. He considerably expanded the reach and influence of the startup accelerator during his tenure.
Altman joined Y Combinator as a part-time partner in 2011 and became a full-time partner in 2014. Under his leadership, Y Combinator’s investment portfolio grew substantially, and the organization launched several new initiatives, including Y Combinator Research. He oversaw over 300 investments during his time as president. TechCrunch reported on Altman’s departure from Y Combinator in March 2019.
prior to Y Combinator,Altman co-founded Loopt,a location-based social networking mobile app,in 2005. Loopt was acquired by Foursquare in 2012 for $43.4 million.
Regulatory Scrutiny and AI governance
Sam Altman and OpenAI are facing increasing scrutiny from regulators regarding the potential risks and societal impact of advanced AI technologies. Discussions center around responsible AI development, data privacy, and potential misuse.
In May 2023, the Federal Trade Commission (FTC) launched an investigation into OpenAI’s data security practices, focusing on potential violations of consumer protection laws. This investigation followed reports of data breaches and concerns about the security of user details.
Altman has publicly advocated for government regulation of AI, arguing that it is necessary to mitigate potential risks and ensure that AI benefits society. He testified before Congress in May 2023, urging lawmakers to establish a framework for AI governance. Transcript of Sam Altman’s testimony before the Senate Judiciary Committee is available on Congress.gov.