In BriefPosted:2:16 PM PST January 26, 2025Image Credits:Jaap Arriens/NurPhoto / Getty ImagesPerplexity submits a new bid for TikTokPerplexity AI has submitted a revised proposal to merge with TikTok, in an arrangement that would give the U.S. government up to 50 percent ownership of the new entity.The Associated Press first reported on the new proposal. A source with knowledge of the bid confirmed to TechCrunch that the APs reporting is accurate.The AI search engine had previously proposed creating a new company by combining Perplexity, TikTok US, and additional equity investors. Under the new bid, the government would receive its stake after an initial public offering of at least $300 million, while TikToks current Chinese owner ByteDance could also retain ownership, according to the AP.Perplexity reportedly revised its bid based on feedback from President Donald Trumps administration.TikTok briefly went down last weekend due to a law forcing ByteDance to sell the app or see it banned in the United States. It sprang back to life after Trump said he would sign an executive order extending the sale deadline. He also said hed like to see the U.S. receive 50% ownership, although it wasnt clear whether he meant the government or U.S. investors.Another report this week suggested that the White House was negotiating a deal that would see Oracle (which already provides the infrastructure for TikToks U.S. traffic) take over; when asked, Trump said hes spoken to many people about TikTok but not with Oracle.Topics