Perplexity AI has introduced a proposal to merge with TikTok's U.S. business, enabling the U.S. government to hold up to 50% ownership. This revised strategy aims to address regulatory issues without necessitating ByteDance's complete disassociation from TikTok, thus appeasing investors. The deal contemplates an IPO of at least $300 billion, while ByteDance would maintain a significant role, contributing to the new structure minus TikTok's proprietary algorithm. The proposal echoes prior discussions by Trump administration officials on managing Chinese ownership in U.S. companies.
Perplexity AI's new proposal allows the U.S. government to own 50% of a merged entity with TikTok, reflecting changes based on Trump administration feedback.
The revised proposal aims to control TikTok in the U.S. without requiring ByteDance to completely sever ties while ensuring a U.S. board oversight.
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