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The Supreme Court on Friday upheld the law requiring China-based ByteDance to divest its ownership of TikTok by Sunday or face an effective ban of the popular social video app in the U.S.

ByteDance has so far refused to sell TikTok, meaning many U.S. users could lose access to the app this weekend. The app may still work for those who already have TikTok on their phones, although ByteDance has also threatened to shut the app down.

In a unanimous decision, the Supreme Court sided with the Biden administration, upholding the Protecting Americans from Foreign Adversary Controlled Applications Act, which President Joe Biden signed in April.

“There is no doubt that, for more than 170 million Americans, TikTok offers a distinctive and expansive outlet for expression, means of engagement, and source of community,” the Supreme Court’s opinion said. “But Congress has determined that divestiture is necessary to address its well-supported national security concerns regarding TikTok’s data collection practices and relationship with a foreign adversary.”

Supreme Court Justices Sonia Sotomayor and Neil Gorsuch wrote concurrences.

TikTok’s fate in the U.S. now lies in the hands of President-elect Donald Trump,  who originally favored a TikTok ban during his first administration, but has since flip-flopped on the matter. In December, Trump asked the Supreme Court to pause the law’s implementation and allow his administration “the opportunity to pursue a political resolution of the questions at issue in the case.”

In a post on his social media app Truth Social, Trump wrote that the decision was expected “and everyone must respect it.”

“My decision on TikTok will be made in the not too distant future, but I must have time to review the situation. Stay tuned!” Trump wrote.

Trump began to speak more favorably of TikTok after he met in February with billionaire Republican megadonor Jeff Yass. Yass is a major ByteDance investor who also owns a stake in the owner of Truth Social.

Trump will be inaugurated Monday, one day after the TikTok deadline for a sale. TikTok CEO Shou Chew is one of several tech leaders expected to be in attendance, seated on the dais. 

In a video posted on TikTok, Chew thanked Trump “for his commitment to work with us to find a solution that keeps TikTok available” in the U.S. He said use of TikTok is a First Amendment right, adding that over 7 million American businesses use it to make money and find customers.

“Rest assured, we will do everything in our power to ensure our platform thrives as your online home for limitless creativity and discovery as well as a source of inspiration and joy for years to come,” he said.

It's pretty clear Trump likes TikTok and is going to save it, says LightShed's Rich Greenfield

The nation’s highest court said in the opinion that while “data collection and analysis is a common practice in this digital age,” the sheer size of TikTok and its “susceptibility to foreign adversary control, together with the vast swaths of sensitive data the platform collects” poses a national security concern.

Under the terms of the law, third-party internet service providers such as Apple and Google will be penalized for supporting a ByteDance-owned TikTok after the Jan. 19 deadline.

If service providers and app store owners comply, consumers will be unable to install the necessary updates that make the app functional.

Representatives of TikTok did not immediately respond to requests for comment.

Users look for alternatives

Shou Zi Chew, CEO of TikTok, speaks to reporters outside the office of Sen. John Fetterman (D-PA) at the Russell Senate Office Building on March 14, 2024 in Washington, DC.

Anna Moneymaker | Getty Images

On Jan. 10, the Supreme Court heard oral arguments from lawyers representing TikTok, content creators and the U.S. government. TikTok’s lead lawyer, Noel Francisco, argued that the law violates the First Amendment rights of the app’s 170 million American users. U.S. Solicitor General Elizabeth Prelogar argued that the app’s alleged ties to the Chinese government pose a national security threat.  

Many TikTok creators have been telling their fans to find them on competing social platforms such as Google’s YouTube and Meta’s Facebook and Instagram, CNBC reported. Additionally, Instagram leaders scheduled meetings after the Jan. 10 Supreme Court hearing to direct workers to prepare for a wave of users if the court upholds the law.

Chinese social media app and TikTok look-alike RedNote rose to the top of Apple’s app store Monday, indicating that TikTok’s millions of users were seeking alternatives.

The Chinese government also weighed a contingency plan that would have X owner Elon Musk acquire TikTok’s U.S. operations as part of several options intended to keep the app from its effective ban in the U.S., Bloomberg News reported Monday.

Should ByteDance decide to sell TikTok to a U.S. company or group of investors, potential buyers may have to pay between $40 billion and $50 billion, according to an estimate by CFRA Research Senior Vice President Angelo Zino.

WATCH: SCOTUS hears TikTok ban case

TikTok ban's fate is now in the Supreme Court's hands

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CNBC Daily Open: Capex is the number to look at amid Big Tech earnings

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CNBC Daily Open: Capex is the number to look at amid Big Tech earnings

Signage at Google headquarters in Mountain View, California, US, on Thursday, Oct. 23, 2025.

Benjamin Fanjoy | Bloomberg | Getty Images

The news is coming in fast and thick. Strap in.

First, interest rates.

The U.S. Federal Reserve lowered rates by 25 basis points, as expected by traders. But Chair Jerome Powell cautioned that another cut in December, which the market had been pricing in with more than 90% certainty, “is not a foregone conclusion.”

His statement threw cold water on the markets, sending most stocks lower and Treasury yields higher.

Next, Big Tech earnings.

Alphabet, Meta and Microsoft reported earnings that beat analyst expectations on the top and bottom lines. Notably, Alphabet’s quarterly revenue topped $100 billion for the first time.

And finally capital expenditure.

Capex is really the big story here. Alphabet, Meta and Microsoft are saying they are going to spend much more money.

Alphabet not only raised its capex estimate for fiscal year 2025 to a “a range of $91 billion to $93 billion” from its earlier forecast of $75 billion to $85 billion, but is now expecting “a significant increase” in capex for 2026, according to finance chief Anat Ashkenazi.

Meta hiked the low end of its capex guidance for the year to $70 billion from $66 billion. “Being able to make a significantly larger investment here is very likely to be a profitable thing” CEO Mark Zuckerberg said in the earnings call.

And Microsoft’s Chief Financial Officer Amy Hood said capex in the firm’s fiscal first quarter came in at $34.9 billion — higher than the $30 billion figure estimated in July. The capex growth rate for fiscal 2026 will also surpass that in 2025, Hood added.

The crux is that spending on artificial intelligence isn’t going to slow down, at least for the next year, thanks to increasing demand for AI services. Fears of a bubble can be deferred for now.

That’s it for the day. We all can take a breather — at least until headlines emerge from U.S. President Donald Trump and China’s Xi Jinping’s meeting later in the day.

What you need to know today

And finally…

Chinese President Xi Jinping and U.S. President Donald Trump

Sergey Bobylev | Kent Nishimura | Reuters

Trump-Xi meeting nears with high stakes and hopes, but few details

A high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping could yield a breakthrough in the trade relationship between the two economic superpowers.

But while both the Trump administration and Beijing are projecting optimism ahead of the sit-down, specifics about the summit remain unclear — and some experts are skeptical of the White House’s confidence on achieving a favorable outcome.

— Kevin Breuninger

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Wall Street hates Meta’s AI spending guidance raise. We don’t

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Wall Street hates Meta's AI spending guidance raise. We don't

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Samsung’s third-quarter profit more than doubles, beating estimates as chip recovery gathers pace

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Samsung’s third-quarter profit more than doubles, beating estimates as chip recovery gathers pace

Headquarters of Samsung in Mountain View, California, on October 28, 2018.

Smith Collection/gado | Archive Photos | Getty Images

Samsung Electronics reported a rebound in earnings on Thursday, with operating profit more than doubling from the previous quarter on strength from its chip business. 

Here are Samsung’s third-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:

  • Revenue: 86.1 trillion Korean won ($60.5 billion) vs. 85.93 trillion won 
  • Operating profit: 12.2 trillion won vs. 11.25 trillion won

The South Korean technology giant’s quarterly revenue was up 8.85% from a year earlier, while its first-quarter operating profit climbed 32.9% year-over-year. 

Samsung shares popped nearly 4% in early trading in Asia.

The earnings represent a bounce back from the June quarter, which had been weighed down by a massive slump in Samsung’s chip business. Operating profit increased by 160% compared to June, while revenue increased by 15.5% over the same period. 

Samsung Electronics, South Korea’s largest company by market capitalization, is a leading provider of memory chips, semiconductor foundry services and smartphones.

Samsung’s chip business reported a 19% increase in sales from the June quarter, with its memory business setting an all-time high for quarterly sales, driven by strong demand from artificial intelligence.

The third-quarter operating profit also beat Samsung’s own guidance of around 12.1 trillion Korean won. 

Chip Business 

Samsung Electronics’ chip business posted an operating profit of 7.0 trillion Korean won in the third quarter, up 81% from the same period last year, and an over tenfold increase from last quarter. 

Chip revenue increased to 33.1 trillion won, up 13% from last year.

Also known as its Device Solutions division, Samsung’s chip business encompasses memory chips, semiconductor design and its foundry units.

The unit benefited from a favorable price environment, while quarterly revenues reached a record high on expanded sales of its high-bandwidth memory (HBM) chips — a type of memory used in artificial intelligence computing.

Samsung has found itself lagging behind memory rival SK Hynix in the HBM market, after it was slow to secure major contracts with leading AI chip Nvidia. However, in a positive sign for the company, it reportedly passed Nvidia’s qualification tests for an advanced HBM chip last month.

A report from Counterpoint Research earlier this month found that Samsung had reclaimed the top spot in the memory market ahead of SK Hynix in the third quarter after falling behind its competitor for the first time the quarter prior. 

MS Hwang, research director at Counterpoint Research, told CNBC that Samsung’s third-quarter performance was a clear result of a broader “memory market boom,” as well as rising prices for general-purpose memory.

Heading into 2026, Samsung said its memory business will focus on the mass production of its next-generation HBM technology, HBM4.

Smartphones 

Samsung’s mobile experience and network businesses, tasked with developing and selling smartphones, tablets, wearables and other devices, reported a rise in both sales and profit.

The unit posted an operating profit of 3.6 trillion won in the third quarter, up about 28% from the same period last year. 

The company said earnings were driven by robust flagship smartphone sales, including the launch of its Galaxy Z Fold7 device.

Samsung forecasted that the rapid growth of the AI industry would open up new market opportunities for both its devices and chip businesses in the current quarter.

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