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The Latest Breaking News from MGX

Landmark Social Media Addiction Trial Starts Today in California

In the first social media addiction case to reach a jury, K.G.M. claims TikTok, YouTube, and other platforms are responsible for her depression, anxiety, and poor self esteem.

Reason

Meet TikTok’s new U.S. CEO: Adam Presser, a Harvard business and law grad with an affinity for Chinese movies

"For three years in high school, I watched Chinese movies and had this incredibly eye-opening experience,” Presser said in a 2023 interview.

Fortune

Oracle’s TikTok Win Isn’t Social Media—It’s a Cloud Power Move

Strategic acquisition of a major equity stake in TikTok US cements Oracle as the primary landlord for one of the most data-intensive platforms in the world.

MarketBeat

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TikTok announces it has finalized deal to establish US entity, sidestepping ban

Majority US-owned venture includes Larry Ellison’s Oracle, private-equity group Silver Lake and Abu Dhabi’s MGX

The Guardian - UK

TikTok finalizes deal to form new American entity

TikTok has finalized a deal to create a new American entity, avoiding the looming threat of a ban in the U.S. that has been in discussion for years

The Independent UK

TikTok closes deal to divest U.S. operations

The deal ends a yearslong saga to force TikTok's Chinese parent ByteDance to sell the company's U.S. operation.

Axios

Oracle Fans Love the New TikTok Deal. But Does It Really Change the Bull Case for ORCL Stock?

The Larry Ellison-led company is finally set to own a stake in the popular social media platform owned by the Chinese.

Barchart

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TikTok US Operations Set to Spin Off Under Deal With Oracle, Silver Lake and MGX

TikTok plans to spin off its U.S. operations under a new American-led joint venture to comply with U.S. law.

International Business Times

TikTok's US arm has been sold, in a deal that one Senate Democrat says won't do 'a thing to protect the privacy of American users'

The new company is owned by Oracle, Silver Lake, and Abu Dhabi state investment firm MGX.

PC Gamer

TikTok strikes deal to keep operating in the US after months of uncertainty

Euronews

ByteDance Signs TikTok US Deal As Forced Sale Fears Peak — Creators Face Upheaval

TikTok's future in the States has been secured through a deal with Oracle, Silver Lake, and MGX. After several extensions by Donald Trump to avoid a ban, ByteDance agreed to sell a majority stake to this US-led group.

International Business Times UK

ByteDance Signs Binding Deal To Spin Off TikTok US Into Majority-American Joint Venture

Under the deal, the U.S. version of TikTok will become majority-owned by American investors, satisfying the core requirement of a bipartisan law passed by Congress in 2024 that sought to address national security concerns tied to the app's Chinese ownership.

International Business Times

TikTok signs Trump-backed deal to avoid US ban

Joint venture will take over part of app’s US operations, including data protection, algorithm security and content moderation

The Guardian - UK

TikTok signs deal to sell US unit to American investors, including Oracle, Silver Lake

TikTok has signed a deal to sell its U.S. business to three American investors — Oracle, Silver Lake and MGX — ensuring the popular social video platform can continue operating in the United States

The Independent UK

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Fortune

AI rivals like OpenAI, Nvidia, and Oracle are collaborating to build ‘Stargate’—but a Yale expert says it violates 135 years of antitrust law

Six AI leaders are uniting to form a single company. How is this possibly legal, asks Madhavi Singh of Yale’s Thurman Arnold Project, an initiative dedicated to antitrust issues.

Benzinga

Metagenomi Prioritizes Hemophilia A Program, Lays Off 25% Workforce

Metagenomi, Inc. (NASDAQ:MGX) on Tuesday shared new dose range finding data from its MGX-001 hemophilia A program.

The Independent UK

Trump claims he doesn’t know who Binance founder is - despite pardoning him days ago: ‘I’d rather not have you ask the question’

‘Okay, are you ready? I don't know who he is,’ Trump said of Changpeng Zhao, the crypto billionaire he pardoned 10 days ago

The Independent UK

Binance helped Trump crypto company make billions. Then the president pardoned its jailed leader - but that’s not all: report

Now that President Donald Trump has pardoned Chanpeng Zhao, the world’s largest trading crypto platform is likely to make a comeback in the U.S. following the 2023 ban

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Fortune

Senate Democrats demand top Trump advisor Steve Witkoff provide details on crypto investments, lack of divestment

The president’s special envoy to the Middle East reported in August that he still owned a Trump-linked cryptocurrency.

Tom’s Hardware

Groups including BlackRock, Microsoft, Nvidia, and xAI join forces to acquire Aligned Data Centers — $40B deal delivers 5GW of operational and planned data center capacity

Microsoft, Nvidia, and xAI partner with asset management firm BlackRock under AIP to make massive investments in data center infrastructure.

Reason

TikTok's (Sorta) American Owners

Plus: James Comey indicted, some New York schools stripped of funding, NATO being tested, and more...

The Guardian - UK

Abu Dhabi royal family to take stake in TikTok US under Trump deal

MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, will take 15% stake, with social media firm valued at $14bn

inkl

MGX as a No-Code App Builder with Multi-Agent AI: What Sets It Apart

Creating an app has traditionally been a complicated process. It usually entails programming, interface design, and multiple test runs before release. MGX is changing this approach by acting as a no‑code app builder with multi‑agent AI. This tool enables individuals and companies to develop applications fast without even a single…

Tom’s Hardware

TSMC reopening discussions with Washington to build chip manufacturing plant in UAE — report

TSMC is allegedly in talks with Washington to consider the possibility of opening an advanced chip fab in the Middle East.

The Guardian - US

‘Roadmap for corruption’: Trump dive into cryptocurrency raises ethics alarm

The president’s hawking of $Trump memecoin has sparked a firestorm of criticism over potential influence buying

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