Satya Nadella

Microsoft Corp. Chief Executive Satya Nadella will also assume the role of company chairman, the software giant said Wednesday.

Sources familiar with TikTok’s Chinese parent ByteDance tell FOX Business that while “Microsoft stepped in as a standalone, now it’s not. There’s an honest competition now. [TikTok] bolsters Microsoft’s cloud business but the same could be said for Oracle."

The move by Blackstone comes as ByteDance is facing pressure from the White House to sell TikTok to a U.S. company or face the likelihood that the app will be banned in the U.S. over concerns that the Chinese government uses customer data for surveillance purposes.

Microsoft’s CEO Satya Nadella sent employees an email today laying out a sweeping vision for racial justice that includes hundreds of million of dollars in investment.

Microsoft CEO Satya Nadella warned that making remote work permanent could lead to negative consequences for social interaction and mental health.