U.S. search engine 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 U.S., a person familiar with the proposal told Reuters on Sunday.

Congress voted to ban TikTok out of concern that TikTok's ownership structure represents a security risk, a ban upheld by the Supreme Court but

Perplexity, an artificial intelligence search engine startup, has bid to merge with TikTok U.S. so the platform can avoid being banned in the country.

Search engine startup Perplexity AI submitted a bid on Saturday to TikTok's Chinese parent ByteDance for Perplexity to reportedly merge with TikTok.

A key provision in the revised proposal includes the potential for the US government to own up to 50 per cent of the new company following an initial public offering (IPO).

PERPLEXITY AI revised the merger proposal it had submitted to TikTok parent ByteDance, CNBC reported on Sunday. Read more at The Business Times.

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.