Perplexity AI has submitted a revised proposal to merge with TikTok, which might give the US authorities as much as 50 % possession of the brand new entity.
The Related Press first reported the brand new proposal. A supply with data of the bid confirmed to TechCrunch that the AP’s reporting is correct.
The AI search engine beforehand proposed forming a brand new firm by combining Perplexity, TikTok US, and extra fairness traders. Based on the AP, beneath the brand new bid, the federal government would obtain its stake after an preliminary public providing of at the least $300 million, whereas TikTok’s present Chinese language proprietor ByteDance might additionally retain possession.
Perplexity reportedly revised its bid based mostly on suggestions from President Donald Trump’s administration.
TikTok went down briefly final weekend on account of a regulation banning ByteDance from promoting the app or being banned in the USA. It revived after Trump stated he would signal an govt order extending the gross sales deadline. He additionally stated he wished the U.S. to have “50% possession,” although it was unclear whether or not he meant the federal government or American traders.
One other report this week advised that the White Home is negotiating a deal that might see Oracle (which already gives the infrastructure for TikTok’s US site visitors) take over. When requested, Trump stated he had spoken to “lots of people about TikTok” however “not with Oracle”.
