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."

Perplexity's plan would allow the U.S. to own up to half of the new entity once it makes an initial offering of at least $300 billion.

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 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.

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

(Reuters) - Perplexity AI revised the merger proposal it had submitted to TikTok parent ByteDance, CNBC reported on Sunday. The proposal, to create a new entity combining Perplexity and TikTok U.S., would now also allow for the U.S. government to own up to 50% of the new company upon a future initial public offering, CNBC said.

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.