The U.S. government could own up to 50% of Perplexity AI and TikTok‘s U.S. business as part of a new deal, a source familiar with the matter has said.
Perplexity AI presented a new proposal to TikTok’s parent company ByteDance last week.
The proposal is a revision of a prior plan presented on Jan. 18, a day before the law that bans TikTok went into effect.
Why It Matters
The proposal represents a potential compromise between banning TikTok and addressing concerns over its Chinese ownership.
What To Know
The revised proposal allows for a new structure merging Perplexity AI and TikTok’s U.S. business.
The U.S. government could acquire up to a 50 percent nonvoting stake after a public …