Numerous potential buyers, including PerplexityAI and the internet advocacy group, Project Liberty, have publicly stated their interest in the app.

ByteDances valuation of TikTok at an impressive $200 billion presents a considerable challenge for potential buyers.

Donald Trump is now being hailed as TikTok's savior after he tried to ban the app during his White House first term.

US President Donald Trump on Tuesday said he would be supportive of the world's richest man and his close aide, Elon Musk, buying TikTok "if he wanted to". Trump was asked if he would be open to the billionaire founder of Tesla buying the short-video platform facing a nationwide ban in the US after the Supreme Court last week upheld a law requiring TikTok to sever ties with its Chinese parent ByteDance.

President Donald Trump's administration ​is developing a strategy to rescue TikTok that entails enlisting the help of software giant Oracle and a group of outside investors to successfully take over the app's international operations,

The Trump administration is denying it, but Trump previously said he'd like to see the software company take it over.

The Trump administration is negotiating a deal that would see Oracle take over TikTok alongside new U.S. investors, according to a report in NPR.

The Trump administration is working with Oracle and investors like Microsoft to save TikTok, allowing ByteDance to keep a minority stake. Meetings are ongoing to finalize the deal, with a potential $200 billion price tag and oversight by Oracle to reduce Chinese ownership.