AI startup Perplexity said to submit bid to merge with TikTok’s US unit

Perplexity AI submitted a bid to TikTok parent ByteDance Ltd., to merge with its US operations and create a new entity, according to a person with knowledge of the matter.

The structure would allow most of ByteDance‘s existing investors to retain their stakes, according to CNBC, which cited a person with knowledge of the situation, and reported on the bid earlier Saturday.