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Trump Says 'Very Wealthy' Group to Buy TikTok

A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. (Reuters)
A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. (Reuters)
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Trump Says 'Very Wealthy' Group to Buy TikTok

A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. (Reuters)
A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. (Reuters)

US President Donald Trump said Sunday a group of buyers had been found for TikTok, which faces a looming ban in the United States due to its China ties, adding he could name the purchasers in two weeks.

"We have a buyer for TikTok, by the way," Trump said in an interview on Fox's Sunday Morning Futures with Maria Bartiromo.

"Very wealthy people. It's a group of wealthy people," the president said, without revealing more except to say he would make their identities known "in about two weeks."

The president also said he would likely need "China approval" for the sale, "and I think President Xi (Jinping) will probably do it."

TikTok is owned by China-based internet company ByteDance.

A federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before Trump's inauguration on January 20. But the Republican, whose 2024 election campaign relied heavily on social media and who has said he is fond of TikTok, put the ban on pause.

In mid-June Trump extended a deadline for the popular video-sharing app by another 90 days to find a non-Chinese buyer or be banned in the United States.

Tech experts quickly described the TikTok kerfuffle as a symbol of the heated US-China tech rivalry.

While Trump had long supported a ban or divestment, he reversed his position and vowed to defend the platform -- which boasts almost two billion global users -- after coming to believe it helped him win young voters' support in the November election.

"I have a little warm spot in my heart for TikTok," Trump told NBC News in early May. "If it needs an extension, I would be willing to give it an extension."

Now after two extensions pushed the deadline to June 19, Trump has extended it for a third time.

He said in May that a group of purchasers was ready to pay ByteDance "a lot of money" for TikTok's US operations.

The previous month he said China would have agreed to a deal on the sale of TikTok if it were not for a dispute over Trump's tariffs on Beijing.

ByteDance has confirmed talks with the US government, saying key matters needed to be resolved and that any deal would be "subject to approval under Chinese law."

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Technology

China Approves First Two Level-3 Autonomous Driving Cars from State-owned Automakers

People pass by the entrance to Volkswagen (China) Technology Company, a 3 billion euros ($3.5 billion) R&D center in Hefei in eastern China's Anhui province, on Feb. 25, 2025. (AP Photo/Ken Moritsugu)
People pass by the entrance to Volkswagen (China) Technology Company, a 3 billion euros ($3.5 billion) R&D center in Hefei in eastern China's Anhui province, on Feb. 25, 2025. (AP Photo/Ken Moritsugu)
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China Approves First Two Level-3 Autonomous Driving Cars from State-owned Automakers

People pass by the entrance to Volkswagen (China) Technology Company, a 3 billion euros ($3.5 billion) R&D center in Hefei in eastern China's Anhui province, on Feb. 25, 2025. (AP Photo/Ken Moritsugu)
People pass by the entrance to Volkswagen (China) Technology Company, a 3 billion euros ($3.5 billion) R&D center in Hefei in eastern China's Anhui province, on Feb. 25, 2025. (AP Photo/Ken Moritsugu)

China's industry regulator on Monday approved two Chinese cars with level-3 autonomous driving capabilities, marking the first time such vehicles have been cleared by the national regulator as legitimate products ready for mass adoption.

The Ministry of Industry and Information Technology approved the two electric sedans from state-owned automakers Changan Auto and BAIC Motor in its latest automobile product entry category, said Reuters.

The two models are allowed to activate conditional autonomous driving in designated areas of Chongqing and Beijing with speed limits of 50km/h and 80km/h, respectively, the ministry said in a statement. The automakers will conduct trial operation with the cars on the specific roads via their ride-hailing units, it added.

The auto industry has defined five levels of autonomous driving, from cruise control at level one to fully self-driving cars at level five, and level three allows drivers to take their eyes and hands off the road in certain situations.

The move underscored China's ambition to lead the development and adoption of autonomous driving, a technology poised to disrupt the auto industry globally. Last year, China lined up nine automakers for public tests to advance the adoption of self-driving cars.

Chinese regulators earlier this year had sharpened scrutiny of the assisted driving technologies following an accident involving a Xiaomi SU7 sedan in March. That incident killed three occupants when their car crashed seconds after the driver took control from the assisted-driving system.

But government officials are pressing Chinese automakers to rapidly deploy even more advanced systems. In their level-3 push, Chinese regulators also are upping the regulatory ante by holding automakers and parts suppliers liable if their systems fail and cause an accident.

Autonomous driving developers such as Pony AI and WeRide have been testing their level-4 cars with licenses granted by local governments across China.

Tesla's Full Self-Driving, a level-2 driver assistance system, has been partially approved in China since February and falls short of its capabilities in the United States.

Technology

Elm Company Named Strategic Partner for International Data and AI Conference

Elm Company Named Strategic Partner for International Data and AI Conference
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Elm Company Named Strategic Partner for International Data and AI Conference

Elm Company Named Strategic Partner for International Data and AI Conference

The Saudi Data and Artificial Intelligence Authority (SDAIA) announced a strategic partnership with Elm Company for the International Conference on Data and AI Capacity Building (ICAN 2026), enhancing collaboration to empower the data and artificial intelligence ecosystem and promote innovation in education and human capacity development.

This partnership comes as part of preparations for ICAN 2026, organized by SDAIA from January 28 to 29 at King Saud University in Riyadh, with the participation of a select group of specialists and experts from around the world, SPA reported.

The step represents a qualitative addition that contributes to enriching the conference’s knowledge content and expanding partnerships with leading national entities.

Elm Company brings extensive experience in designing digital solutions and building technical capabilities, reinforcing its role as a strategic partner in supporting the conference. It contributes by developing training tracks and digital empowerment programs, participating in the technology exhibition, and presenting qualitative initiatives that help empower national competencies in the fields of data and artificial intelligence.

Technology

Foxconn to Invest $510 Million in Kaohsiung Headquarters in Taiwan

Construction is scheduled to start in 2027, with completion targeted for 2033. Reuters
Construction is scheduled to start in 2027, with completion targeted for 2033. Reuters
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Foxconn to Invest $510 Million in Kaohsiung Headquarters in Taiwan

Construction is scheduled to start in 2027, with completion targeted for 2033. Reuters
Construction is scheduled to start in 2027, with completion targeted for 2033. Reuters

Foxconn, the world’s largest contract electronics maker, said on Friday it will invest T$15.9 billion ($509.94 million) to build its Kaohsiung headquarters in southern Taiwan.

That would include a mixed-use commercial and office building and a residential tower, it said. Construction is scheduled to start in 2027, with completion targeted for 2033.

Foxconn said the headquarters will serve as an important hub linking its operations across southern Taiwan, and once completed will house its smart-city team, software R&D teams, battery-cell R&D teams, EV technology development center and AI application software teams.

The Kaohsiung city government said Foxconn’s investments in the city have totaled T$25 billion ($801.8 million) over the past three years.