Microsoft's TikTok bid rejected, PS5 digital showcase coming Wednesday

This is CNET and here are the stories that matter right now.Tick Tock owner bytedance has swatted away Microsoft's bid for the hyper popular video streaming app like a tick tock can be matumbo choosing to partner with California cloud computing giant Oracle in the US. The ongoing saga of which US company would when the Tik Tok deal was first sparked when President Donald Trump raised national security concerns about the apps Chinese ownership on August for the deadline to find a buyer was November 12. But the saga appears to have come to an early end. Bytedance will not be handing over the AI powered algorithm behind Tick Tock. According to a report by the South China Morning Post. After rival Microsoft revealed the price of its next gen Xbox series x and series s systems last week, Sony appears poised to hit back like a tech Mike Tyson with their own big news this week. On Wednesday, a PlayStation five digital showcase will take place at 1PM pacific time on both YouTube and Twitch lasting for about 40 minutes. The PlayStation blog hints this will be games focused rather than hardware focused, but some are anticipating Sony will reveal the two biggest questions remaining. About the console, its price and its release date. [MUSIC] And finally, Nvidia. The tech Tom Brady of graphics processing unit says it will purchase SoftBank's arm For $40 billion in cooperating it as a division of Nvidia. Last week Bloomberg reported the companies were in talks for Nvidia to acquire arm, which is a chip design company much like Qualcomm and Intel. Arms work lies behind the processes inside many of the world's mobile phones. And Apple recently announced it would overhaul its Mac computers with ARM chips, moving away from the Intel processors it has used for over a decade. The deal is expected to close in 18 months, as long as it passes regulatory hurdles in the US, UK, Europe, and China. [MUSIC] [MUSIC] Stay up to date with the latest by visiting CNET [MUSIC]