The plan to save TikTok involves software company Oracle and a group of outside investors effectively taking control of the app's global operations, two sources with

ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence, two people briefed on the matter said.

The bankers definitely want in despite this being a heavy lift because the fees on an estimated $20-plus billion deal could be pretty rich.

Rep. Mike Turner, R-Ohio, former chairman of the House Intelligence Committee, said on Sunday that TikTok remains a national security threat and he hopes President-elect Trump can reaches a deal that leads to China-based ByteDance selling its stake in the app.

TikTok owner ByteDance on Wednesday released an update to its flagship AI model as a global race intensified to create AI models capable of tackling complex problems.

TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.

ByteDance is placing a big bet on artificial intelligence (AI) infrastructure as the TikTok parent plans to spend more than $12 billion on AI in 2025, the Financial Times reported on Tuesday, citing sources.

Social-media giant ByteDance, China's most valuable unicorn, on Thursday unveiled its Seed Edge initiative, a long-term artificial intelligence (AI) research programme that is expected to shore up the TikTok owner's efforts in the fast-developing technology.

The new proposal from Perplexity AI, the artificial intelligence search engine startup, could give US government 50 per cent stake in the new entity

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.

Besides Perplexity, several other companies and individuals have put in their bids to either purchase or merge with TikTok.