According to Reuters, the deal being negotiated by the White House would see ByteDance retaining a stake in the company — either the U.S. or global operations — but data collection and software updates would be overseen by Oracle, which already provides hosting for TikTok.

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

Oracle and a group of investors that includes Microsoft are in talks to take over TikTok’s global operations, reports NPR. The deal, which the White House is reportedly negotiating, would see ByteDance keeping a minority stake in TikTok while “the app’s algorithm,