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

Oracle would reportedly control TikTok's data collection, algorithm, and software updates, but Chinese owner ByteDance would maintain a minority stake.

President Donald Trump is in the middle of a chaotic race to secure the future of TikTok in America. Speaking aboard Air Force One en route to Florida on Jan. 25, Trump confirmed that multiple discussions are taking place with “substantial people” about buying TikTok’s U.

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.

U.S. search engine startup Perplexity AI has revised the merger proposal it had submitted to TikTok's Chinese parent ByteDance to create a new entity combining Perplexity and TikTok U.S., a person familiar with the proposal told Reuters on Sunday.

Perplexity AI has submitted a new proposal 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. The deal was submitted last week and seeks to satisfy one of Trump’s conditions for allowing a stay on TikTok’s ban.