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.
European and Asian shares slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free open-source artificial intelligence model to rival OpenAI's ChatGPT.
Bitcoin fell below $100,000 on Monday, hitting an 11-day low as market caution spiked following the debut of a Chinese AI model that triggered a selloff in Western tech stocks.
DeepSeek's AI Assistant tops the U.S. App Store, surpassing ChatGPT, sparking debate on AI supremacy and the effectiveness of U.S. tech export controls targeting China's advancements.
U.S. President Donald Trump announced a groundbreaking $500 billion private-sector investment to bolster artificial intelligence (AI) infrastructure, launching the largest AI initiative in history during an event on January 21 alongside tech leaders Larry Ellison, Masayoshi Son, and Sam Altman.
UNESCO urges ethical AI use in education, emphasizing human agency and investment in teacher-student training, as part of International Education Day 2025.
Trump's administration halts federal grants and loans, sparking backlash over potential disruptions to education, health care, and aid programs, with Democrats calling the move unlawful.
Russia has expressed its desire to continue supplying gas to Europe despite halting shipments through Ukraine on January 1, following the expiration of their transit contract.
Azerbaijani President Ilham Aliyev has stressed the country's crucial role in Eurasian transport networks, highlighting its position on key trade routes and ongoing efforts to improve infrastructure and cooperation with neighbouring nations.
Uzbekistan ramps up green initiatives for 2025, focusing on renewable energy, efficiency, and sustainability. Plans include 16 new power plants, $300M in funding, and planting 200M trees annually under the "Yashil Makon" program.
Russian investigators confirm a Pantsir-S1 missile downed Azerbaijan Airlines Flight 8243. Baku demands accountability as tensions rise over Moscow's next steps.
BP aims to join the Karabakh oil field project in Azerbaijan by 2025, with negotiations underway to finalize terms with SOCAR for this strategic offshore development.
BP Azerbaijan has announced plans to build a new compression platform at the Shah Deniz gas field to optimize production, company spokesperson Tamam Bayatly confirmed in a press briefing.
Trump's administration halts federal grants and loans, sparking backlash over potential disruptions to education, health care, and aid programs, with Democrats calling the move unlawful.
Serbian PM Milos Vucevic resigns after months of protests over a deadly canopy collapse, as public outrage grows over alleged government negligence and corruption.
Singapore will begin testing self-driving public buses on select routes starting mid-2026, aiming to evaluate their potential for widespread deployment, the Land Transport Authority (LTA) announced on January 27.
Google Maps will soon rename the "Gulf of Mexico" to the "Gulf of America" in the US, following a change in the US Geographic Names System, the company confirmed on January 27.
Trump's administration halts federal grants and loans, sparking backlash over potential disruptions to education, health care, and aid programs, with Democrats calling the move unlawful.
Russia has expressed its desire to continue supplying gas to Europe despite halting shipments through Ukraine on January 1, following the expiration of their transit contract.
Azerbaijani President Ilham Aliyev has stressed the country's crucial role in Eurasian transport networks, highlighting its position on key trade routes and ongoing efforts to improve infrastructure and cooperation with neighbouring nations.
Uzbekistan ramps up green initiatives for 2025, focusing on renewable energy, efficiency, and sustainability. Plans include 16 new power plants, $300M in funding, and planting 200M trees annually under the "Yashil Makon" program.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment