Startup Perplexity AI made its second bid to buy TikTok, this time with a proposal to have the U.S. government own 50% of the platform. Lawmakers have long opposed TikTok’s algorithm since its parent company,

Perplexity AI submitted a revised merger proposal to TikTok’s Chinese parent ByteDance as the popular video-sharing app stares down a national ban, according to multiple reports. Under the new proposal, the US government would own up to half of the company after a future initial public offering, a source familiar with the matter told CNBC.

If the new proposal is accepted, the U.S. government would not have voting power or a seat on the company's board.

Perplexity AI has presented the new proposal to Byte Dance, TikTok’s parent company, as the organization searches for a U.S. buyer.

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

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.

A new TikTok proposal is on the table. Perplexity AI has proposed a merger that would give the U.S. government a 50% ownership stake.

The revised plan reportedly includes provisions for the US government to receive stock in the new company once Perplexity AI achieves an initial public offering valued

In one of his first acts in office, Trump extended the deadline for TikTok to find new ownership that satisfies the government by 75 days.

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