There's no telling yet if Trump's plan can set up a better version of Project Texas or convince China to sign off on a TikTok sale. Analysts have suggested that China may agree to a TikTok sale if Trump backs down on tariff threats.

ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.

Trump reportedly told reporters during an Air Force One flight that he has been in talks with "numerous people" about a potential deal to "save TikTok."

WASHINGTON (AP) — Perplexity AI has presented a new proposal to TikTok’s parent company that would allow the U.S. government to own up to 50% of a new entity that merges Perplexity with TikTok’s U.S. business, according to a person familiar with the matter.

A new TikTok proposal is on the table. Perplexity AI has proposed a merger that would give the U.S. government a 50% ownership stake.

Congress voted to ban TikTok out of concern that TikTok's ownership structure represents a security risk, a ban upheld by the Supreme Court but

US President Donald Trump said Monday that Microsoft is in talks to acquire TikTok, while the app's future in the country faces uncertainty.

Trump said that there were many contenders looking to buy TikTok and that he “would like the United States to have a 50% ownership position in a joint venture.”

U.S. President Donald Trump told reporters on Monday that Microsoft is in talks to acquire TikTok and that he would like to see a bidding war over the app. (Reporting by Nandita Bose and Costas Pitas;