Perplexity AI Submits Merger Bid for TikTok US

Perplexity AI has submitted a bid to merge with TikTok's US operations, confirmed by CNBC and multiple sources. The proposed merger aims to create a new entity combining Perplexity, TikTok, and private equity firm New Capital Partners, allowing most of ByteDance's current investors to retain their stakes. This move comes amid a looming ban on TikTok in the United States, which requires ByteDance to sell TikTok or face a shutdown. President-elect Donald Trump has indicated a likely 90-day extension for TikTok to finalize a deal, while President Biden's administration has not provided clear assurances against the ban. Perplexity, known for its AI search engine, aims to integrate more video content into its platform through this merger, potentially valuing the new entity at over $50 billion. Despite interest from multiple parties, ByteDance has consistently stated it does not intend to sell TikTok.