US President Donald Trump said the deal for ByteDance to sell the TikTok app will be signed before the deadline this weekend.
When he took office on January 20, Trump ordered TikTok to find a new non-Chinese owner or face a ban in the US by April 5.
"We have a lot of potential buyers interested in TikTok. I want to see TikTok continue to exist," he told reporters on Air Force One on March 31, saying a deal could happen before Saturday.
In mid-March, US Vice President JD Vance also told NBC News: "There is almost certainly a high-level deal that I think will satisfy our national security concerns, allowing for an American TikTok company."
TikTok is currently valued at $50 billion. ByteDance has not confirmed that it is in talks with potential buyers and has also declined to say whether it would agree to sell TikTok to a US company.
The buyer would have to be a company based outside of China. Several US companies such as Walmart, Oracle and Microsoft are considered potential names.