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.

President Trump has paused the federal ban on TikTok for 75 days, giving ByteDance, the app's China-based owner, time to sell its U.S. assets. In a bold proposal, Trump suggested that a future buyer give the United States a 50% ownership stake in a joint venture.

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.

The development comes as the Beijing-based company faces pressure from the US government to sell its social media app TikTok.

Donald Trump signed an executive order delaying the US ban on ByteDance's TikTok for 75 days, starting January 19.

US President Donald Trump on Tuesday said he would be supportive of the world's richest man and his close aide, Elon Musk, buying TikTok "if he wanted to". Trump was asked if he would be open to the billionaire founder of Tesla buying the short-video platform facing a nationwide ban in the US after the Supreme Court last week upheld a law requiring TikTok to sever ties with its Chinese parent ByteDance.

"I have been against a TikTok ban for a long time, because it goes against freedom of speech. That said, the current situation where TikTok is allowed to operate in America, but X