Jeff Bezos-backed Perplexity AI has sent a revised proposal to ByteDance, the parent firm of TikTok, allowing the U.S. government to own up to 50% of a new company that would merge Perplexity with TikTok’s U.S. business.
According to the proposal, ByteDance must permit complete U.S. board control while maintaining certain linkages to TikTok, while government ownership would be non-voting and would not include a board seat.
This latest approach, which is in line with earlier suggestions to decrease Chinese ownership, follows an executive order postponing TikTok’s U.S. ban and comes amid interest from a number of investors.
In a related development, US President Donald Trump has denied reports that his administration is working on a deal with Oracle and other investors to take over TikTok in the US.
Reports reveal that although Trump has denied having any discussions with Oracle, he has “spoken to many people about TikTok” and could decide within the next month.
During an Air Force One flight, Trump responded to reporters’ questions about a possible deal with Oracle by saying, “No, not with Oracle,” according to Reuters. I’m hearing from a lot of people, including some pretty important ones, about purchasing it, and I’ll probably decide within the next 30 days.