U.S President Donald Trump on Monday said there is a lot of interest in TikTok, as his administration seeks to broker a sale of the popular app.

Under the deal being negotiated by the White House, TikTok’s China-based owner, ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s Web infrastructure, one of the sources told Reuters.

U.S. President Donald Trump has tasked Vice President JD Vance and national security adviser Michael Waltz with overseeing a potential sale of TikTok, Punchbowl News reported on Friday. (Reporting by Mrinmay Dey in Bengaluru;

Vice President Vance has been tapped alongside national security adviser Mike Waltz to oversee a potential sale of the popular app TikTok, a source familiar with the plans told The Hill. President Trump tasked Vance with taking the lead on a possible deal that could save the video sharing app from shutting down in