TikTok owner ByteDance on Wednesday released an update to its flagship AI model as a global race intensified to create AI models capable of tackling complex problems.

WASHINGTON – General Atlantic CEO Bill Ford said on Wednesday that a deal would get done to save TikTok in the U.S. after President Donald Trump signed an executive order that halted a ban on the app for 75 days.

Bill Ford, the CEO of ByteDance shareholder General Atlantic, said Wednesday he was confident that a deal will be reached to ensure TikTok stays online in the US — and suggested there may be

ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence, two people briefed on the matter said.

TikTok parent ByteDance is asking Chinese employees at its Singapore headquarters to pay tax to their home country or risk losing their ability to cash out on stock options, as Beijing steps up enforcement of its global tax scheme.

MrBeast, a prominent YouTuber, is exploring potential purchase of TikTok, amidst discussions with various interested buyers. His role is expected to be operational rather than financial. TikTok has two months to secure a buyer or face a potential ban in the US.

After the bipartisan TikTok law was signed by former President Joe Biden in April, ByteDance said it did not have plans to sell the platform and fought the statute in court for months. China also rebuked Washington over the divestment push, though more recently it appears to be softening its stance.

YouTuber MrBeast, X owner Elon Musk and Oracle Chairman Larry Ellison are names that have floated around in the past week.

President Trump signed an executive order delaying the TikTok ban for 75 days, providing temporary relief to users but leaving uncertainty for the app's future in the U.S.

TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.