Amazon submitted a bid to the White House to purchase the social media app TikTok from its Chinese owners, CNBC has confirmed.

The company sent its proposal in a letter this week to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to a source familiar with the matter who asked not to be named because the discussions are confidential. The parties aren’t treating the bid seriously, however, given that it was submitted just days before a deadline staving off a U.S. ban is set to expire, the person said.

Amazon declined to comment.

The e-commerce company’s offer, which was first reported by The New York Times, comes as TikTok’s fate in the U.S. is up in the air. The short-form video app faces another potential shutdown in the U.S. on April 5 if ByteDance, its parent company, can’t reach a deal to divest TikTok’s American operations. Lawmakers passed a bill last year setting a Jan. 19 deadline for the sale, but Trump signed an executive order granting a 75-day extension for a potential deal.

Trump could announce a decision on TikTok’s fate in the U.S. as soon as Wednesday, sources familiar with the situation told CNBC’s David Faber. Mobile technology company AppLovin has also made a bid for TikTok, Faber reported separately, citing sources familiar with the matter.

TikTok has emerged as a major hub for e-commerce as it has poured money into growing its online marketplace, called TikTok Shop. TikTok’s lucrative marketplace, coupled with the app’s more than 170 million users, could be an attractive asset for Amazon. Following TikTok’s success, Amazon launched and then shuttered a short-form video service of its own.

Last August, the two companies formed a partnership that allowed TikTok users to link their account with Amazon and make purchases from the site without leaving the app. The deal attracted scrutiny from lawmakers who were concerned about its potential national security risks.

WATCH: How TikTok Shop is beating Amazon and Temu in social shopping

Tesla shares rose Wednesday after Politico reported that Elon Musk could leave his post at the so-called Department of Government Efficiency, paving the way for the CEO to return his focus on the struggling EV maker.

The White House later called the report “garbage.”

The stock was last up about 5%. At its session lows, it had dropped as much as 6.4% on the back of weaker-than-expected vehicle deliveries for the first quarter.

The report — which cites Trump insiders — noted that, while President Donald Trump is pleased with Musk and the DOGE spending cuts that have been pushed through, the two decided in recent days that the billionaire would soon return to his businesses. NBC News is reporting that Trump told the cabinet Musk could leave in the coming months.

Wednesday’s report comes during a tough stretch for Tesla. Despite Wednesday’s gains, the stock has dropped more than 5% over the past month. Year to date, it has tumbled more than 31%. Shares also shed 36% in the first quarter, marking their biggest quarterly drop since 2022.

Musk’s role in the White House is one factor weighing on Tesla’s stock. It has sparked waves of protests, boycotts and violent attacks on Tesla stores and vehicles around the world. Trump’s automotive tariffs are also a concern as they involve Tesla’s key suppliers — notably in Mexico and China.

“My Tesla stock and the stock of everyone who holds Tesla has gone, went roughly in half,” Musk said on Sunday night at a rally he held in Green Bay, Wisconsin, to promote a Republican judge he backed in Tuesday’s state supreme court election, Brad Schimel. “This is a very expensive job is what I’m saying.”

In addition to holding the rally in Wisconsin, Musk spent millions and frequently posted about the race on his social network X. Judge Susan Crawford, who won the seat on the Wisconsin Supreme Court, was backed by Democrats and progressive groups who criticized Musk, his money and influence on the race as well as his DOGE work in their campaigns.

Separately, New York City Comptroller Brad Lander urged the city to sue Tesla on behalf of NYC pension funds citing Musk’s work for the White House.

In a Tuesday statement, Lander’s office said: “The basis of the potential litigation are the material misstatements from Tesla claiming that CEO Elon Musk spends significant time on the company and is highly active in its management, despite his helming the Trump Administration’s DOGE initiative, spending little of his time actually managing Tesla, and promoting policies that are actively harmful to Tesla’s business.”

CNBC reached out to the White House for comment.

Nintendo revealed the details of the Switch 2, its next game console, in a launch video on Wednesday.

The Switch 2 will hit store shelves on June 5 for $449.99. Nintendo will launch game titles including “Mario Kart World” and “Street Fighter 6” alongside the new hardware.

The new device is a bigger and faster version of the Nintendo Switch, which has sold 150 million units since it was released in 2017, making it the third-best selling game console of all time. Gamers will be able to use the Switch 2 as both a handheld console as well as hooked up to a television. The device will be able to play the existing library of Switch games as well as new and updated games that require the new hardware.

The Switch 2 looks a lot like its predecessor with some differences, including a larger 7.9-inch screen with 1080p resolution which can display gameplay at 120 frames per second. The company’s controllers, called Joy-Cons, now attach to the console’s screen with magnets, and can work as a mouse when used on a table. It comes with 256GB of internal storage.

One of the biggest changes a new “C” button that brings up a new Nintendo app for chatting with friends called Game Chat. The hardware has an improved microphone, and can support simultaneous split-screen gaming over the internet. A separate camera accessory will enable users to stream video of themselves playing the game, as well.

The improved hardware will allow for bigger worlds and more immersive experiences. For example, 24 racers can compete in Mario Kart World at the same time, Nintendo said.

Nintendo console launches are a landmark for the gaming industry.

They’re hotly anticipated by fans, who want to know what games are coming, as well as game developers and publishers, who want to plan how they’ll develop for Nintendo’s lucrative platforms. Nearly 1.4 billion games and apps for the Switch have been sold during its lifetime, Nintendo has said.

Nintendo’s new gaming system comes during a period when consoles are less central to the gaming industry than ever before. 

Sony’s Playstation 5, released in 2020, has sold fewer units than its predecessor did after the same years of availability. Microsoft’s Xbox Series X/S is the second-straight generation of Xbox hardware with falling sales, according to analysts, and the company’s leadership has de-emphasized its consoles in favor of promoting a message that gamers can play Xbox games on phones, smart TVs, VR headsets and other hardware.

Meanwhile, companies like Nvidia, Amazon, Google and Microsoft have invested heavily in “cloud streaming,” which enables users to rent high-powered servers to run their games in the cloud. This allows gamers to play games on a web browser, as opposed to consoles they own.

Businesses prefer cloud streaming services because it turns lumpy game sales into a recurring revenue stream billed monthly, but nearly all of the companies that have given cloud streaming a go have failed to find commercial traction. Google, for example, closed its cloud streaming service in 2023. Additionally, more and more gaming is done on phones and tablets, where Apple and Google take a cut of game sales.

Nintendo continues to buck these trends. 

Its Nintendo Switch, using a Nvidia chip, was underpowered by design when it was first released in 2017, and still cannot play games in 4K resolution — something that Sony and Microsoft’s consoles were able to do when the Switch was released. The Switch 2 will be able to play games in 4K resolution on televisions.

Instead of competing in terms of producing higher-fidelity and more realistic graphics, which create bigger game files and require faster hardware, Nintendo doubled down on colorful, cartoon graphics and its exclusive characters and franchises. That includes Mario, Zelda and Pokemon. These characters are increasingly moving beyond games and into movies and other media — “The Super Mario Bros. Movie” was released in 2023, and a Legend of Zelda movie is planned for 2027.

And while the Japanese company has experimented with mobile games, its consoles remain the only place to play major new titles. Nintendo regularly releases experiences that require additional physical parts to run, such as the cardboard structures of Nintendo Labo, which turned the first Switch into a virtual-reality experience for kids.

Nintendo stock, traded in Japan, is up nearly 28% so far this year in anticipation of the Switch 2. The company reported 1.67 trillion yen ($11 billion) in revenue in its fiscal 2024, which ended in May.

WATCH: Nintendo has ‘a lot of work to do’ to convince casual users to upgrade to Switch 2: Kantan Games