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.
OpenAI has unveiled a new option called Flex processing, an API service designed to provide more affordable AI model usage in exchange for slower response times and occasional resource unavailability.
China is set to embed artificial intelligence (AI) into its entire education system from primary to higher education as part of a national effort to modernize learning, boost innovation, and build a skilled, future-ready workforce.
Nvidia has announced it expects a $5.5 billion financial impact after new US government export restrictions barred it from selling its advanced H20 AI chips to China without a license.
The Head of the Chamber of Commerce and Industry of Kyrgyzstan, Temir Sariev, met with a Russian company planning to introduce artificial intelligence technologies into the country's healthcare system, with a $20 million investment already committed.
Japan is investing 802.5 billion yen ($5.4 billion) in Rapidus, a chip startup, aiming to reduce reliance on foreign chipmakers and enhance semiconductor production. The move comes amid rising tensions between the U.S. and China, emphasizing Japan’s focus on securing its chip supply chain
South Korea’s data protection authority said Thursday that Chinese AI startup DeepSeek transferred user information and prompt content abroad without user consent during its initial launch in the country.
The United States is preparing to offer over $100 billion in arms sales to Saudi Arabia, according to six sources familiar with the matter. The package is expected to be announced during President Donald Trump’s visit to the kingdom in May.
A 15-year-old boy killed a fellow pupil and wounded three others in a stabbing attack at a high school in the western French city of Nantes on Thursday before he was overpowered by teachers, police said.
“The EU will stand with Moldova in every step of the way until the very membership,” - stated Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, Vice-President of the European Commission at her joint press-conference with the President of Moldova, Maia Sandu.
In a significant development for Afghanistan-Russia relations, Zamir Kabulov, Special Envoy of the Russian President, held high-level talks with Taliban officials in Kabul, signaling a further warming of ties between the two nations.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Pope Francis's relationship with Azerbaijan has evolved significantly over the years, characterized by diplomatic exchanges, promotion of religious tolerance, and peace advocacy in the Caucasus region.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
South Korea’s data protection authority said Thursday that Chinese AI startup DeepSeek transferred user information and prompt content abroad without user consent during its initial launch in the country.
The United States is preparing to offer over $100 billion in arms sales to Saudi Arabia, according to six sources familiar with the matter. The package is expected to be announced during President Donald Trump’s visit to the kingdom in May.
A 15-year-old boy killed a fellow pupil and wounded three others in a stabbing attack at a high school in the western French city of Nantes on Thursday before he was overpowered by teachers, police said.
“The EU will stand with Moldova in every step of the way until the very membership,” - stated Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, Vice-President of the European Commission at her joint press-conference with the President of Moldova, Maia Sandu.
UK Prime Minister Keir Starmer is nearing a defence deal with the EU to reset post-Brexit ties, even as his government courts a U.S. trade deal. Talks will culminate at a May summit, aiming to boost cooperation in defence, energy, and youth mobility.
South Korea’s data protection authority said Thursday that Chinese AI startup DeepSeek transferred user information and prompt content abroad without user consent during its initial launch in the country.
The United States is preparing to offer over $100 billion in arms sales to Saudi Arabia, according to six sources familiar with the matter. The package is expected to be announced during President Donald Trump’s visit to the kingdom in May.
A 15-year-old boy killed a fellow pupil and wounded three others in a stabbing attack at a high school in the western French city of Nantes on Thursday before he was overpowered by teachers, police said.
“The EU will stand with Moldova in every step of the way until the very membership,” - stated Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, Vice-President of the European Commission at her joint press-conference with the President of Moldova, Maia Sandu.
In a significant development for Afghanistan-Russia relations, Zamir Kabulov, Special Envoy of the Russian President, held high-level talks with Taliban officials in Kabul, signaling a further warming of ties between the two nations.
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