Search engine startup Perplexity AI has updated its merger proposal to TikTok's parent company, ByteDance, aiming to combine Perplexity with TikTok’s U.S. operations, a source familiar with the matter told Reuters on Sunday.
The revised proposal outlines the creation of a new U.S. holding company, "NewCo," which would manage the merged entities. Under the plan, ByteDance would sell TikTok U.S. to investors, granting TikTok’s existing stakeholders equity in NewCo.
The U.S. government would hold up to a 50% stake in the new company after a future initial public offering (IPO) with a minimum valuation of $300 billion, the source said. ByteDance would retain TikTok's core recommendation algorithm.
Perplexity AI also offered to be acquired by the new entity, provided its investors receive equity distributions in NewCo. CNBC first reported details of the merger proposal.
TikTok services in the U.S. were restored last week after President Donald Trump, following his return to power, lifted the ban on the app, which was previously blocked under national security concerns. ByteDance and the White House have yet to respond to Reuters' requests for comment.
President Trump stated on Saturday that he is engaging with multiple parties over the future of TikTok and expects a decision within 30 days. Earlier this month, Reuters reported that Perplexity AI had submitted an initial bid to ByteDance proposing a merger rather than a direct sale, which the company believes could increase the likelihood of the deal’s success.
Microsoft is working on a new generation of in-house artificial intelligence reasoning models designed to rival those from OpenAI, according to a report by The Information.
The U.S. Department of Justice on Friday abandoned its proposal that would have forced Alphabet’s Google to divest its investments in artificial intelligence companies, including rival Anthropic, as part of its broader antitrust case aimed at curbing Google’s alleged illegal search monopoly.
Alibaba Group’s shares climbed by more than 8% on Thursday following the release of its latest artificial intelligence reasoning model, QwQ-32B.
OpenAI is reportedly gearing up to launch a suite of specialized AI “agent” products that could cost users as much as $20,000 per month, according to The Information.
Google has open sourced SpeciesNet, an artificial intelligence model designed to automatically identify animal species from photos captured by camera traps.
More than 1,000 people have been killed in Syria’s deadliest clashes since Bashar al-Assad’s ouster, according to war observer.
European nations have endorsed a $53 billion Arab-backed plan to rebuild Gaza without displacing its residents, rejecting a rival proposal from U.S. President Donald Trump.
Poland plans mandatory military training for men to build a 500,000-strong army amid security threats.
North Korea has revealed its first nuclear-powered submarine under construction, a move that could enhance its long-range strike capabilities.
Norway’s government has affirmed that it will continue to supply fuel for U.S. Navy vessels, dismissing recent calls from a private marine fuel supplier to halt deliveries amid tensions linked to U.S.-Ukrainian relations.
President Donald Trump is preparing a new travel ban that could block entry for people from Afghanistan and Pakistan as early as next week. The move is part of an intensified immigration crackdown.
EU High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, Kaja Kallas, will chair the 20th EU-Central Asia Ministerial meeting hosted this year by Turkmenistan, in Ashgabat, on 4 March.
Heavy rainfall in northwestern Peru has caused a river to overflow, destroying infrastructure, flooding agricultural lands, and affecting at least 150 families in Tumbes province.
More than 1,000 people have been killed in Syria’s deadliest clashes since Bashar al-Assad’s ouster, according to war observer.
European nations have endorsed a $53 billion Arab-backed plan to rebuild Gaza without displacing its residents, rejecting a rival proposal from U.S. President Donald Trump.
Poland plans mandatory military training for men to build a 500,000-strong army amid security threats.
North Korea has revealed its first nuclear-powered submarine under construction, a move that could enhance its long-range strike capabilities.
More than 1,000 people have been killed in Syria’s deadliest clashes since Bashar al-Assad’s ouster, according to war observer.
European nations have endorsed a $53 billion Arab-backed plan to rebuild Gaza without displacing its residents, rejecting a rival proposal from U.S. President Donald Trump.
Poland plans mandatory military training for men to build a 500,000-strong army amid security threats.
North Korea has revealed its first nuclear-powered submarine under construction, a move that could enhance its long-range strike capabilities.
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