President Trump has announced that Microsoft is currently negotiating to acquire TikTok from its Chinese owner, Bytedance. Trump prefers a competitive bidding environment involving American technology companies, indicating openness to Elon Musk's potential interest in acquiring it as well. The backdrop involves U.S. national security concerns leading to a ban on TikTok, although the current president has allowed a 75-day reprieve to facilitate negotiations. Earlier attempts to finalize a deal during Trump's first term failed before Biden's presidency. Oracle and AI startup Perplexity AI have also expressed acquisition interest in TikTok.
Microsoft has been in talks with TikTok's Chinese owner Bytedance, as President Trump suggests a bidding process involving American technology companies for the app's acquisition.
Under President Trump, a reprieve was granted for TikTok, allowing a 75-day period to negotiate an acquisition to address national security concerns.
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