Kevin O’Leary’s $20B TikTok offer is rejected as ByteDance confirms it won’t sell the key technology behind the app’s success.

TikTok is an AI app. Not an “ask a bot to do your homework” kind of AI app, but an AI app all the same: Its algorithm processes and acts upon huge amounts of data to keep users engaged. Without that fundamental, freakishly well-tuned technology, TikTok wouldn’t really be anything at all—just another video or shopping platform.

Dan Ives, Wedbush Securities global head of tech research, joins CNBC's 'The Exchange' to discuss the looming TikTok ban in the U.S.

The supremely popular TikTok could be banned on Jan. 19 under a federal law that forces the video sharing platform to divest itself from its China-based parent company, ByteDance, or shut down its U.S.

TikTok plans to cease operations in the United States on Sunday unless President Joe Biden intervenes before he leaves office one day later.

Washington — The Supreme Court on Friday upheld a new law that would lead to a ban of the social media platform TikTok, clearing the way for the widely popular app to shutter in the U.S. as soon as Sunday.

Challenges came in tandem with TikTok’s success. U.S. officials expressed concerns about the company’s roots and ownership, pointing to laws in China that require Chinese companies to hand over data requested by the government. Another concern became the proprietary algorithm that populates what users see on the app.

TikTok is a key tool for the success of many small businesses in America. Kevin O'Leary says six million businesses use the app to sell products, find customers and make money. If TikTok is shut down, it would cause big problems for these businesses.

With a TikTok ban set to go into effect Sunday, influencers and strategists say politicians run the risk of losing a key communication tool and alienating the large number of people active there.

Local entrepreneurs say losing the platform will impact their ability to connect with clients and generate income.

Challenges came in tandem with TikTok’s success. U.S. officials expressed concerns about the company’s roots and ownership, pointing to laws in China that require Chinese companies to hand over data requested by the government. Another concern became the proprietary algorithm that populates what users see on the app.