Perplexity AI has put forward a revised proposal to merge with TikTok, which would grant the U.S. government a stake of up to 50% in the newly formed entity after an IPO of at least $300 million. This marks a change from earlier proposals that combined Perplexity, TikTok US, and other investors, motivated by feedback from President Trump's administration. The context of this negotiation comes on the heels of TikTok's operational challenges in the U.S., highlighting the complexities of ownership and market positioning within the tech landscape.
Perplexity AI's revised proposal aims to merge with TikTok, offering up to 50% ownership to the U.S. government after an IPO of at least $300 million.
Previously, Perplexity's bid involved creating a new company combining TikTok US and equity investors, revised based on feedback from Trump's administration.
The new proposal emerged after TikTok faced potential bans unless ByteDance sold the app, with the U.S. administration advocating for significant ownership.
Trump expressed interest in U.S. receiving "50% ownership" of TikTok amidst ongoing negotiations, while also alluding to Oracle's potential involvement.
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