Perplexity AI revises merger proposal with TikTok, offers 50% equity to US, ByteDance to retain algorithm: Report

Aravind Srinivas’ Perplexity AI has revised its merger proposal with TikTok owner ByteDance to create a new joint company, Reuters reports. Under the new terms, the US government would be offered up to 50% of the new company in a future IPO at a valuation of at least $300 billion.

What is Perplexity offering TikTok?