Top stories today:

1. TikTok U.S. deal set to close Jan. 22, with Oracle overseeing data
2. Lovable raises $330M at $6.6B valuation, led by CapitalG, Menlo
3. CPI (core) +2.7% (+2.6%) YoY in shutdown-hit report as inflation eases
4. Trump media group agrees $6B merger with TAE Technologies
5. OpenAI said to be in early talks to raise up to $100B at $830B valuation
6. ChatGPT tops $3B in global mobile consumer spending since launch

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. TikTok U.S. deal set to close Jan. 22, with Oracle overseeing data protection

• TikTok USDS Joint Venture LLC will be the owner of TikTok’s U.S. business, per an internal memo.

• Oracle, Silver Lake, and Abu Dhabi’s MGX will be the 3 “managing investors”, collectively owning 45% of the joint venture.

• The JV will oversee U.S. data protection, algorithm security, content moderation, and software assurance, the memo said.

• It will also retrain TikTok’s recommendation algorithm on U.S. user data to ensure feeds are free from outside manipulation.

• ~$14B could be the TikTok U.S. valuation.

• ByteDance signed the deal on Thu. to form the JV to avoid the U.S. TikTok ban.

2. Lovable raises $330M at $6.6B valuation, led by CapitalG, Menlo Ventures

• Khosla Ventures, Accel, and EQT also participated in the round.

• $200M in ARR, up from $100M in Jul.

• 320K paying customers.

• Investment will focus on integrations with partners like Stripe and Notion and bolstering engineering.

4. CPI (core) +2.7% (+2.6%) YoY in shutdown-hit report as inflation eases