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.

The president said he’s also open to another tech giant to acquire TikTok: Larry Ellison, co-founder of Oracle. Ellison was present at the White House for a $500 billion AI infrastructure partnership between the Trump administration and OpenAI, Softbank and Oracle. Oracle, a software company, houses most of TikTok's servers

TikTok restored service to U.S. users after Trump said he would issue an executive order after he's sworn in to delay a ban of the platform.