Perplexity AI has submitted a revised proposal to merge with TikTok, in an association that might give the U.S. authorities as much as 50 % possession of the brand new entity.
The Related Press first reported on 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 had beforehand proposed creating a brand new firm by combining Perplexity, TikTok US, and extra fairness buyers. Underneath the brand new bid, the federal government would obtain its stake after an preliminary public providing of no less than $300 million, whereas TikTok’s present Chinese language proprietor ByteDance may additionally retain possession, in keeping with the AP.
Perplexity reportedly revised its bid based mostly on suggestions from President Donald Trump’s administration.
TikTok briefly went down final weekend resulting from a legislation forcing ByteDance to promote the app or see it banned in the USA. It sprang again to life after Trump mentioned he would signal an government order extending the sale deadline. He additionally mentioned he’d prefer to see the U.S. obtain “50% possession,” though it wasn’t clear whether or not he meant the federal government or U.S. buyers.
One other report this week advised that the White Home was negotiating a deal that might see Oracle (which already gives the infrastructure for TikTok’s U.S. site visitors) take over; when requested, Trump mentioned he’s spoken to “many individuals about TikTok” however “not with Oracle.”
