Bloomberg Tech Trump Says TikTok Buyer Group Found
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Jun 30, 2025 Jack Whittle, a seasoned Bloomberg reporter, and Hiba Amva, a partner with Erickson Immigration Group, dive into President Trump’s announcement about the formation of a buyer group for TikTok. They discuss the intricate negotiations involving major players like Oracle, and the hurdles posed by U.S.-China tensions. The conversation also touches on Canada’s withdrawal of its digital services tax to revive trade talks with the U.S., and Elon Musk's criticism of the Senate bill affecting electric vehicle tax credits.
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TikTok Buyer Consortium Identified
- The buyer for TikTok's U.S. operations appears to be a consortium including Oracle, Andreessen Horowitz, and Blackstone.
- The key issue remains if the algorithm will be transferred from Chinese control, which could stall the deal in Washington.
Tech Market Rally Driven by Profits
- Tech sector hitting record highs driven by corporate profits, especially in largest companies.
- Despite narrow breadth, this validates positive momentum rather than signaling an imminent correction.
Global Tech Growth and Valuation Trends
- The growth lead of U.S. tech is narrowing as Europe and Asia accelerate tech earnings growth.
- Valuation gaps remain large, so stabilizing dollar could renew U.S. equity favorability.