Surging interest in artificial intelligence is generating huge gains for Chinese tech stocks like Alibaba, which has more than doubled this year.

The administration has been working for months to find non-Chinese investors for a U.S. version of the app.

Fox Corporation is considering investing in the popular video app as part of a bid to avert a U.S. ban, a person familiar with the situation said after the president’s remarks.

A potential deal to reduce TikTok’s ties to China would give the app a new board with six American directors out of seven, the White House press secretary said.

The president told reporters Friday that China’s top leader, Xi Jinping, had approved a deal for TikTok. But he also suggested the agreement was a work in progress.

The two leaders spoke on Friday to discuss a deal to keep the wildly popular app from going dark in the United States.

The two leaders are expected to speak Friday to discuss a deal to keep the wildly popular app from going dark in the United States.

As President Trump extended for a fourth time a deadline to determine TikTok’s future in the United States, details of an agreement to address concerns about the app began to emerge.

Top economic officials met in Madrid for a second day, with deadlines looming on tariffs and a ban on TikTok in the United States if it is not sold by its Chinese owner, ByteDance.

Earlier efforts to find a new, non-Chinese owner for the popular video app fell apart. A federal law that cites national security issues requires TikTok owner ByteDance to sell it or face a ban.

Trump administration officials say they have the framework of a deal to save the popular video app. It had until Sept. 17 to be sold by its Chinese owner, ByteDance, or face a ban in the United States.

The short-form video app has until mid-September to change its ownership structure or face a ban in the United States, after a number of deadline extensions from President Trump.