TikTok took another step toward securing its future in the United States after its chief executive informed employees that the company had reached agreements with three major new investors to help establish a U.S.-based version of the app. The update was shared in an internal memo reviewed by The New York Times and signals progress toward a deal aimed at keeping TikTok operational in the American market.

The agreements, however, do not mark the completion of the transaction. According to the memo, the new investors would collectively account for only 45 percent of the ownership of the proposed U.S. TikTok entity, leaving questions about how the remaining stake will be allocated and whether all components of the deal are finalized.

In the memo, TikTok CEO Shou Chew wrote that TikTok and its parent company, ByteDance, had entered into binding agreements with Oracle, the technology company; Silver Lake, a global investment firm; and MGX, an investment company based in the United Arab Emirates. Together with other partners, these investors would oversee the operations of a newly structured American version of TikTok.

Mr. Chew cautioned that the process is not yet complete, telling employees that additional steps are still required before the deal can be finalized.

The negotiations are designed to comply with a U.S. federal law passed last year that requires TikTok to significantly reduce Chinese ownership or face a nationwide ban. Lawmakers approved the legislation amid concerns that the Chinese government could potentially access sensitive data belonging to American users or influence public opinion through the platform. Although the law allows for a ban, President Trump has postponed its enforcement multiple times.

For TikTok, one of the most widely used social media platforms in the United States, the agreements represent meaningful progress after more than six years of uncertainty surrounding its ownership and governance. The app currently has over 170 million users in the country and plays a major role in shaping popular culture, public discourse, and even political engagement.

Several parties involved declined to comment publicly. TikTok and Silver Lake did not issue statements, while Oracle and MGX did not immediately respond to requests for comment. A spokesperson for Vice President JD Vance, who has been overseeing the sale process on behalf of the White House, also did not respond immediately.

Details in the memo closely resemble a deal structure discussed earlier in September by individuals familiar with the negotiations. Under that framework, new investors would hold a combined 50 percent stake in the American TikTok entity. Oracle, Silver Lake, and MGX would each own 15 percent, while the remaining 5 percent would be held by another investor or group of investors that has not yet been identified.

Affiliated entities of existing ByteDance investors would retain a 30.1 percent stake, while ByteDance itself would hold 19.9 percent. This structure appears designed to meet the legal requirement that no more than 20 percent of TikTok be owned by Chinese individuals or companies.

The valuation of the U.S. version of TikTok remains unclear. In September, Mr. Vance indicated that the American entity could be valued at approximately $14 billion, though no updated figures have been disclosed.

Under the proposed arrangement, the new investor consortium would take responsibility for protecting American user data. All U.S. user information would be stored on cloud infrastructure managed by Oracle. In addition, TikTok’s influential recommendation algorithm would be retrained using American user data to ensure greater security and oversight. The investor group would also oversee content moderation decisions for the U.S. platform.

Approval from Beijing is widely viewed as a crucial final step. In 2020, China revised its export control rules to cover advanced technologies, including recommendation algorithms like the one that powers TikTok’s video feed. As a result, the Chinese government holds the authority to approve or block any deal involving the transfer or licensing of such technology.

President Trump stated in September that Chinese leader Xi Jinping had approved the basic framework of a TikTok deal during a phone conversation. However, a summary released by Chinese state media was less explicit, though it suggested that Mr. Xi supported resolving the matter through a commercial agreement.

According to Mr. Chew’s memo, the company aims to close the deal on January 22, just one day before the most recent deadline requiring TikTok to secure new ownership or cease operations in the United States.