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U.S. Government Could Own Half of TikTok’s U.S. Business Under New Plan
The latest plan for a TikTok buyout, by Perplexity AI, would give the U.S. government up to a 50% stake in the company’s domestic business.
The first proposal, which ByteDance hasn’t responded to, sought to create a new structure that would merge San Francisco-based Perplexity with TikTok’s U.S. business and include investments from other investors. Under the proposal, the China-based tech company would contribute TikTok’s U.S. business without the proprietary algorithm that fuels what users see on the app, according to a document seen by the Associated Press. However, to date, the U.S. hasn’t provided public evidence of TikTok handing user data to Chinese authorities or allowing them to tinker with its algorithm.
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