Perplexity AI has introduced a new proposal tiktokThe deal allows the U.S. government to own up to 50% of a new entity that merges Distortion with TikTok's U.S. business, according to a person familiar with the matter.
The proposal, presented last week, is a modification of an earlier plan that the artificial intelligence startup presented to TikTok's parent on Jan. 18, a day before the law banning TikTok came into effect on Jan. 18. .
The first proposal, to which the Bidens have not responded, sought to create a new structure that would merge San Francisco-based Perplexity with TikTok's US business and include investment from other investors.
The new proposal would allow the U.S. government to own up to half of that new structure if it makes an initial public offering of at least $300 billion, said the person, who was not authorized to speak about the proposal. Was. The person said Perplexity's proposal was revised based on feedback from trump administration,
If the plan is successful, government-owned shares will not have voting power, the person said. The government will also not get a seat on the board of the new company.
Bytedance and TikTok did not immediately respond to requests for comment.
Under the plan, the Bidens would not have to completely sever ties with TikTok, a favorable outcome for their investors. But it would have to allow “full U.S. board control,” the person said.
Under the proposal, the China-based tech company would contribute to TikTok's U.S. business without giving users control over what they see on the app, according to a document seen by The Associated Press.
The proposal seems to mirror a strategy Steven Mnuchin, the Treasury secretary during President Donald Trump's first term, discussed on Fox News' Sunday Morning Futures on Sunday — that a new investor in TikTok would simply “dilute” Chinese ownership. “Can do and satisfy the law. Mnuchin has previously expressed interest in investing in the company.
“But the technology must be disconnected from China,” he said. “This needs to be disconnected from the Bidens. There's no way China would ever let us have something like this happen in China.”
Many investors are expressing that this proposal comes interest in tiktokMr Trump said late Saturday he hoped a deal would be reached as soon as 30 days.
But A flight from Las Vegas to Miami on Air Force OneMr Trump also said he had not discussed a deal with Larry Ellison, the CEO of software maker Oracle. a report It comes after Oracle, along with outside investors, was considering taking over TikTok's global operations.
“A lot of people are talking to me. Very important people,” Mr Trump said. “We have a great interest in it, and the United States would be a big beneficiary. … I would only do it if the United States benefits.”
Under a bipartisan law passed last year, TikTok was to be banned in the United States by January 19. If it didn't cut ties with Upma. The Supreme Court upheld the law, but Mr Trump then issued an executive order halting enforcement of the law for 75 days.
On Air Force One Mr. Trump said Ellison lives “right down the street” from his Mar-a-Lago estate, but added, “I never talked to Larry about TikTok. I've talked to several people about TikTok.” There is a lot of talk about and interest in TikTok.”
TikTok shut down briefly in the US a week ago, but Mr Trump said he would suspend the ban. Mr Trump unsuccessfully attempted a US ban of the platform during his first term. But he has since reversed his position and credited the platform with helping him win more young voters during last year's presidential election.
TikTok CEO Shu Chew attended Mr Trump's inauguration January 20, along with some others Tech Leaders Who are building friendly relations with the new administration.
Congress voted to ban TikTok in the US on grounds that TikTok's ownership structure represented a security risk. The Biden administration argued in court for months that it was too high a risk to allow a Chinese company to control the algorithm that determines what people see on the app. Officials also raised concerns about user data collected on the platform.
However, to date, the US has not made public evidence of TikTok handing over user data to Chinese authorities or allowing them to tinker with its algorithm.