Perplexity AI’s Improved Proposes for TikTok Buyout
Perplexity AI has put forth an improved proposal to unite with TikTok that could see the U.S government earn up to 50% ownership stake in the allied organization. As per a report by the Associated Press, which was later confirmed by TechCrunch, the amended bid made by the AI search engine is precise.
Previously, Perplexity had suggested creating an all-new company, combining Perplexity, TikTok US, and other equity participants. The updated proposal could see the government getting its share after a $300 million initial public offering with ByteDance, TikTok’s current Chinese owner, maintaining potential ownership.
Revised Bid Following Feedback from U.S Administration
The revised bid from Perplexity is reportedly based on insights given by President Donald Trump’s administration. Last week, TikTok experienced a temporary shutdown following a mandate that forced ByteDance to either sell the app or face a permanent ban in America. The platform revived after Trump announced he would postpone the sale deadline, indicating an interest for the U.S to possess a “50% ownership”.
Rumours swirled earlier this week that the White House was on its way to strike a deal with Oracle, responsible for handling TikTok’s U.S traffic. When inquired, Trump mentioned having discussions with “many people about TikTok” but “not with Oracle.”
Original source: Read the full article on TechCrunch
