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

The plan to save TikTok involves software company Oracle and a group of outside investors effectively taking control of the app's global operations, two sources with

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

TikTok's influence has been greater than its seemingly short-lived demise. The ByteDance-owned app returns after going dark over the weekend.

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.

According to Reuters, the deal being negotiated by the White House would see ByteDance retaining a stake in the company — either the U.S. or global operations — but data collection and software updates would be overseen by Oracle, which already provides hosting for TikTok.

TikTok owner ByteDance on Wednesday released an update to its flagship AI model as a global race intensified to create AI models capable of tackling complex problems.

Rep. Mike Turner, R-Ohio, former chairman of the House Intelligence Committee, said on Sunday that TikTok remains a national security threat and he hopes President-elect Trump can reaches a deal that leads to China-based ByteDance selling its stake in the app.

ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.

The new proposal from Perplexity AI, the artificial intelligence search engine startup, could give US government 50 per cent stake in the new entity

Last week, President Donald Trump paused TikTok's nationwide ban in the U.S., after the Supreme Court ordered it be shut down due to national security concerns over its ties to the Chinese government. This could potentially enable Beijing to access user data and influence American users.