Perplexity AI proposes to merge with 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.
ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan ($20.64 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence, two people briefed on the matter said.
ByteDance has launched an artificial intelligence (AI)-powered code editor in competition with American leaders like Cursor and Microsoft's Visual Studio Code, just after US President Donald Trump delayed the enforcement of a law requiring the company to divest TikTok.
An uproar with a popular Kindle competitor e-reader has showcased how the use of Chinese AI models in U.S. products could unwittingly spread Chinese propaganda.
ByteDance is placing a big bet on artificial intelligence (AI) infrastructure as the TikTok parent plans to spend more than $12 billion on AI in 2025, the Financial Times reported on Tuesday, citing sources.
Perplexity AI has revised its merger proposal with ByteDance to create a joint entity, offering the US government up to 50% equity during an IPO valued at $300 billion. ByteDance would sell TikTok US to investors while retaining its recommendation algorithm.
Perplexity AI proposes a deal for the US government to own 50% of a new entity merging with TikTok's US business. The revised proposal allows ByteDance to retain some ties but excludes the algorithm.
Elon Musk, real estate magnate Frank McCourt, and Shark Tank’s Kevin O’Leary are also interested in taking over TikTok, according to reports.
AI startup's updated ByteDance deal introduces NewCo, with TikTok U.S. oversight and potential government equity participation
The proposal, submitted last week, is a revision of an earlier plan the artificial intelligence startup presented to TikTok's parent ByteDance on 18 January, a day before the law that bans TikTok went into effect.
Perplexity is seeking to create a new $300-billion public company with TikTok's U.S. business and include investments from other investors.