By Alexandra Alper and David Shepardson

WASHINGTON (Reuters) – U.S. lawmakers on both sides of the aisle hailed a ruling by the Supreme Court on Friday that upheld a law that gives popular Chinese-owned social media app TikTok until Sunday to be bought by an American company or be banned.

The justices unanimously ruled the law, passed by an overwhelming bipartisan majority in Congress last year and signed by Democratic President Joe Biden, did not violate the U.S. Constitution’s First Amendment protection against government abridgment of free speech.

The ruling was a blow for TikTok and for Republican President-elect Donald Trump, who takes office Monday and has been seeking a last-ditch solution to save the app, years after he launched the first unsuccessful bid to ban it.

“The Supreme Court’s unanimous decision sends a clear message … Protecting Americans from Foreign Adversary Controlled Applications Act is the law of the land,” Democratic Representative Frank Pallone said in a statement, adding that “TikTok and other Beijing-controlled applications present a major threat to our national security.”

Republican Senator Tom also applauded the decision, placing the blame for the app’s apparently imminent American demise on its Chinese parent ByteDance.

“ByteDance and its Chinese Communist masters had nine months to sell TikTok before the Sunday deadline,” Cotton said. “The very fact that Communist China refuses to permit its sale reveals exactly what TikTok is: a communist spy app.”

TikTok CEO Shou Zi Chew in a video released after the ruling thanked President-elect Donald Trump for his commitment to “work with us to find a solution including that keeps TikTok available in the United States.”

The Chinese Embassy in Washington did not immediately respond to requests for comment.

During his first term, Trump tried unsuccessfully to both ban TikTok and force its divestment amid fears the app could be used to spy on users for Beijing and concerns its prized algorithm could be used to censor content.

Trump is now scrambling with his advisors to come up with a way to save the app.

“We will put measures in place to keep TikTok from going dark,” Trump’s incoming national security adviser, U.S. Representative Mike Waltz, told Fox News’ “Fox & Friends” on Thursday.

Under the new law, lawyers say only Democratic President Joe Biden could give the app an up to 90 day extension on finding a buyer, something he appeared unlikely to do Friday.

“Given the sheer fact of timing, this Administration recognizes that actions to implement the law simply must fall to the next Administration, which takes office on Monday,” the White House said in a statement.

But lawmakers still urged the app be saved.

“Everyone – the Biden Administration, the incoming Trump Administration, even the Supreme Court – should continue working to find a way to find an American buyer for TikTok, so we can both free the app from any influence and control from the Chinese Communist Party and keep TikTok going, which will preserve the jobs of millions of creators,” Democratic Senator and minority leader Chuck Schumer said on the Senate floor prior to the Supreme Court decision.

Some Republicans echoed his remarks.

“If ByteDance cares about its users, the company will come to the table and help us make the deal of the century,” Republican Rep. John Moolenaar, chair of the China Select Committee, said in a statement.

Strategic Edge AI Investment in Blaize Reflects Confidence in Transformative Growth Opportunities

ABU DHABI, United Arab Emirates–(BUSINESS WIRE)–Burkhan World Investments (BWI), a leading global investment firm, congratulates Taiwan Semiconductor Manufacturing Company (TSMC) on its remarkable Q4 earnings. The stellar results underline the unparalleled growth trajectory in the semiconductor and advanced computing sectors, reaffirming BWI’s strategic focus on cutting-edge technologies, including Edge AI.

BWI’s investment in Blaize, a Nasdaq-listed pioneer in Edge AI technology (NASDAQ: BZAI), reflects its commitment to capitalizing on transformative opportunities in high-growth sectors. Blaize’s innovative solutions are driving significant advancements in industries such as automotive, industrial IoT, and smart cities by enabling real-time decision-making at the edge. The company is well-positioned to become a leader in the rapidly expanding Edge AI market, which represents one of the most significant growth opportunities in technology today.

TSMC’s Q4 revenue of $26.9 billion exceeded guidance by 2.3%, reflecting an impressive quarter-on-quarter growth of 14.3% and a year-on-year surge of 37.1%. Operating profits soared by 18% QoQ and 62% YoY, with gross profit margins climbing to 59% ” well above the company’s long-term target of 53%. These results showcase the surging global demand for advanced semiconductor solutions, driven by transformative technologies such as AI, 5G, and Edge computing.

TSMC’s exceptional performance underscores the tremendous opportunity in the semiconductor space, particularly as industries increasingly pivot toward AI-driven solutions, said Shahal Khan, CEO of Burkhan World Investments. As a firm, we recognized early on that the next explosion in the market would be at the Edge. Our investment in Blaize, a pioneering edge AI company, is a testament to our conviction in this transformative growth story.

Blaize’s cutting-edge technology is designed to address the rapidly expanding demand for Edge AI, offering unparalleled efficiency and scalability across industries such as automotive, industrial IoT, and smart cities. By enabling real-time decision-making at the edge, Blaize is positioned to drive the next wave of innovation, much like TSMC has done in the semiconductor industry.

BWI’s strategic investment in Blaize reflects a shared vision of harnessing technological innovation to create meaningful impact. Blaize, now listed on Nasdaq under the symbol BZAI, reinforces BWI’s confidence in the edge AI market, which is poised to reach unprecedented heights in the coming years.

The intersection of semiconductor advancements and AI represents one of the most significant opportunities of our time. TSMC’s exceptional results are not just a financial milestone but a signal of the industry’s critical role in shaping a smarter, more connected future. Similarly, Blaize’s breakthrough capabilities in Edge AI position it as a leader in the next frontier of AI innovation.

The synergy between semiconductor performance and edge AI growth is undeniable. As TSMC continues to redefine industry benchmarks, companies like Blaize will play a pivotal role in translating these advancements into real-world applications, added Khan.

Burkhan World Investments remains committed to identifying and supporting transformative opportunities in high-growth sectors, including AI and technology infrastructure, to capitalize on innovation and deliver value to its stakeholders.

About Burkhan World Investments Burkhan World Investments (BWI) is a global investment firm with a dual base in Miami and Abu Dhabi. BWI focuses on strategic investments in high-growth sectors, including AI, technology infrastructure, and sustainable innovation. With a commitment to driving meaningful impact, BWI partners with visionary companies to shape a smarter, more connected world.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250117008485/en/

Jaspreet Randhawa
MD & Head of Investments
jaspreet@burkhan.world
+971-58-511-3889

Source: Burkhan World Investments