Markets
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Luke Kawa

AppLovin is also bidding for TikTok: Report

Turns out the list of US tech companies that might be mulling a bid for TikTok isn’t limited to the megacap household names.

CNBC’s Marc Faber reports that ad tech firm AppLovin is making an offer for TikTok, and the Trump administration is “fully aware” of its interest.

AppLovin has been dogged by short sellers in recent weeks, as the likes of Muddy Waters, Fuzzy Panda Research, and Culper Research have all alleged that the company’s AI breakthroughs are a farce.

Shares extended gains to hit their highs of the day just short of $300 following this report, but have since reversed that advance.

Earlier in the day, Amazon spiked following a New York Times report that the company was pursuing a purchase of the social media network.

TikTok is set to be banned this weekend unless ByteDance sells the app, though this deadline has been pushed back before.

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MADRID, SPAIN - JUNE 18: Actor Sacha Baron Cohen (C) attends "Bruno" photocall at Plaza de Toros de Las Ventas on June 18, 2009 in Madrid, Spain.
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Amazon pulled off its monster quarter despite being left out of OpenAI’s tangle of deals

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