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

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

By Dawn Chmielewski, Kanishka Singh and Milana Vinn NEW YORK/WASHINGTON (Reuters) -The administration of U.S. President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app's operations,