A proposal document viewed by CNBC, which was shared with ByteDance and prospective new investors, detailed the creation of a new U.S. holding company, "NewCo."

Under new plan, US government would acquire its stake during entity's initial public offering, which could be valued at $300B or more, local media reports - Anadolu Ajansı

Perplexity AI revised its merger offer to TikTok parent ByteDance (BDNCE) over the weekend, with a new future IPO that could open up to a 50% stake for the U.S. government, according to multiple news reports.

AI search engine startup Perplexity AI has put forward a revised proposal for a merger with TikTok's US operations, reported Reuters.

Perplexity AI submitted a bid on Saturday to TikTok parent ByteDance, proposing that Perplexity merge with TikTok U.S., CNBC has learned.

Perplexity AI proposes a deal for the US government to own 50% of a new entity merging with TikTok's US business. The revised proposal allows ByteDance to retain some ties but excludes the algorithm.

US startup Perplexity AI has revised the merger proposal it had submitted to TikTok's Chinese parent ByteDance to create a new entity combining Perplexity and TikTok US, a person familiar with

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.