Perplexity AI has presented a new proposal to TikTok’s parent company that would allow the U.S. government to own up to 50% of a new entity that merges Perplexity with TikTok’s U.S. business, according to a person familiar with the matter.

Congress voted to ban TikTok out of concern that TikTok's ownership structure represents a security risk, a ban upheld by the Supreme Court but

Perplexity is seeking to create a new $300-billion public company with TikTok's U.S. business and include investments from other investors.

Perplexity AI revised the merger proposal it had submitted to TikTok parent ByteDance, CNBC reported on Sunday. The proposal, to create a new entity combining Perplexity and TikTok U.S., would now also allow for the U.

Perplexity AI has presented a new proposal to TikTok's parent company, ByteDancce that would allow the US government to own up to 50 per cent of a new entity that merges Perplexity with TikTok's US business,