There's no telling yet if Trump's plan can set up a better version of Project Texas or convince China to sign off on a TikTok sale. Analysts have suggested that China may agree to a TikTok sale if Trump backs down on tariff threats.

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.

Whether TikTok stays with Perplexity AI's backing or goes, without that juicy algorithm ByteDance doesn’t seem willing to part with, the app won't ever be the same.

Perplexity AI search startup has a new proposal to merge with TikTok, which would give the US government a stake of up to 50%.

Kevin O’Leary’s $20B TikTok offer is rejected as ByteDance confirms it won’t sell the key technology behind the app’s success.

The bankers definitely want in despite this being a heavy lift because the fees on an estimated $20-plus billion deal could be pretty rich.

WASHINGTON (AP) — 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.

Perplexity AI has revised its merger proposal with ByteDance to create a joint entity, offering the US government up to 50% equity in an IPO valued at $300 billion. ByteDance would sell TikTok US to investors while retaining its recommendation algorithm.

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 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.

A potential deal to restructure TikTok’s ownership could reshape its global operations, minimising Chinese influence while preserving its U.S. presence.

Bill Ford, the CEO of ByteDance shareholder General Atlantic, said Wednesday he was confident that a deal will be reached to ensure TikTok stays online in the US — and suggested there may be