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 offering valued at $300 billion or more. ByteDance would maintain equity in the new entity but cede control to a U.S. board.
During the outage, even users who had previously downloaded TikTok were unable to access the app. While service has since been restored, the app remains unavailable for download in U.S.-based app stores, leaving new users unable to access it.
There's no telling yet if Trump's plan can set up a better version of Project Texas or convince China to sign off on a TikTok sale. Analysts have suggested that China may agree to a TikTok sale if Trump backs down on tariff threats.
Chinese startup DeepSeek has caused a massive stir in the AI world, with Donald Trump looking set for another TikTok-style headache amid concerns over DeepSeek's competitive edge and privacy policies.
U.S. President Donald Trump predicted on Monday there will be many people bidding to own TikTok, and he does not want China involved in the popular social media company.
TikTok, which faces the ticking clock of a ban enforcement, is being pursued by several suitors for a US merger or sale.
ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.
Perplexity is seeking to create a new $300-billion public company with TikTok's U.S. business and include investments from other investors.
Content creator Jimmy Donaldson, known on the Internet as MrBeast, has made it clear he is interested in buying TikTok. Donaldson has the most subscribers of any user on YouTube— over 340 million—and boasts over 113 million TikTok followers.
"Boy Room" is a TikTok hit. But the studio behind it didn't make any money from its success until Amazon showed up.
Whether TikTok stays with Perplexity AI's backing or goes, without that juicy algorithm ByteDance doesn’t seem willing to part with, the app won't ever be the same.