O’Leary Ventures Chairman gave an update on the TikTok bid on “The Craman Countdown.”
Artificial intelligence (AI) company Perplexity AI is reportedly interested in merging with TikTok US to help the video-sharing platform avoid a ban in the country.
CNBC reported, citing people familiar with the matter, that the bid for the platform’s Chinese parent company ByteDance would see a merger between Perplexity AI, TikTok US and a new capital partner. Most investors will be able to maintain their stock holdings.
Congress passed a ban on TikTok last year, effective Sunday unless Chinese-owned ByteDance sells the company.
Possible Tiktok ban: What social media apps are coming to app stores?
TikTok is facing a ban in the United States, which is expected to go into effect on Sunday. (AP Photo/Ashley Landis/AP Newsroom)
The White House has said President Biden has no intention of enforcing the ban, and that President-elect Trump is likely to seek a 90-day moratorium on the ban as allowed by law.
Still, ByteDance said Saturday it plans to “go dark” on Sunday unless the Biden administration gives “definitive” assurances that the ban will not go into effect.
Perplexity is an AI search engine startup founded last year. According to a report by CNBC, it is worth about $9 billion.
Perplexity is an AI search engine startup founded last year. According to a report by CNBC, it is worth about $9 billion. (Jack Silva/NurPhoto via Getty Images/Getty Images)
Biden won’t enforce TikTok ban after signing into law last year, leaving fate to Trump: Official
On Friday, the U.S. Supreme Court upheld the bipartisan law, citing national security risks from the relationship with China.
ByteDance has indicated it won’t sell TikTok, but “Shark Tank” investor Kevin O’Leary told Fox News on Friday that he has made a $20 billion cash offer for TikTok.
President-elect Trump said he would likely seek a 90-day reprieve from the ban allowed in the bill. (Jaap Arrians/NurPhoto via Getty Images / Getty Images)
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“There’s a reason Congress sent this order to the Supreme Court. There’s a reason Congress ruled upholding this order. It’s not worth the risk,” he said. “And the obvious solution is to sell it to an American syndicate as ordered.”
FOX Business has reached out to Bytedance and Perplexity AI for comment.
