Trump Praises TikTok Agreement; Amazon Boosts Ad Ties with SiriusXM; $42bn Tech Partnership Sealed Between UK and US
In a significant move, the United States and the United Kingdom have signed a groundbreaking $42bn technology pact, named the "Tech Prosperity Deal." The agreement, which was sealed during President Trump's visit to the UK, aims to deepen cooperation in artificial intelligence, quantum computing, and civil nuclear energy.
The deal, if finalized, would transfer TikTok's US assets from ByteDance to new American owners. A consortium including Oracle, Silver Lake, and Andreessen Horowitz are set to acquire around 80% of the new US TikTok subsidiary, while ByteDance retains about 19.9% ownership. Nvidia will deploy 120,000 graphics processing units as part of the pact, and Google has made a £5bn investment.
The update does not specify which specific advertisers are participating in the expanded programmatic integration, but the deal intends to give advertisers more flexibility and control over their audio advertising on SiriusXM. The expansion includes programmatic guaranteed deals and the ability to transact via private marketplaces. Amazon has also expanded its programmatic integration with SiriusXM, offering advertisers more ways to buy audio inventory.
Microsoft has pledged £22bn to expand cloud and AI infrastructure as part of the pact. The update does not disclose the financial terms of the expanded programmatic integration between Amazon and SiriusXM. The pact is intended to drive economic growth, strengthen energy security, and expand scientific research.
British Prime Minister Keir Starmer believes the pact has the potential to influence the lives of millions in both countries. President Trump announced a deal with China for TikTok to continue operating in the US, with key details yet to be finalized. Under the proposed deal, Beijing would maintain control over TikTok's algorithm, even if US ownership changes.
The pact comes at a time when both countries are looking to strengthen their technological capabilities and compete on the global stage. The deal is a testament to the strong relationship between the US and the UK and their shared commitment to technological advancement.
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