The head of O’Leary Ventures has the latest news on his TikTok show on “The Claman Countdown.”
Artificial intelligence company Perplexity AI has made an offer to merge with TikTok US, so that the video-sharing platform can avoid a ban in the country, according to a report.
The offer to the platform’s Chinese parent company, ByteDance, would combine Perplexity AI, TikTok US and new capital partners and allow most ByteDance investors to retain their equity stakes, CNBC reported, citing a source familiar with the matter.
Congress passed a Ban on TikTok last year, which takes effect on Sunday unless Chinese-owned ByteDance sells the company.
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TikTok faces a ban in the US, set to take effect on Sunday. (AP Photo/Ashley Landis/AP Newsroom)
The White House said President Biden would not implement the ban, and President-elect Trump said he would likely call for a 90-day postponement of the ban, which is allowed by law.
However, ByteDance said on Saturday that it plans to “cease business” on Sunday unless the Biden administration provides “final” confirmation that the ban will not be implemented.
Perplexity is an AI search engine startup that launched last year. CNBC reported that it was worth about $9 billion.
Perplexity is an AI-powered search engine that was launched last year. CNBC reported that it was worth about $9 billion. (Jack Silva/NurPhoto via Getty Images/Getty Images)
Biden will not implement the TikTok ban after signing the law in recent years, leaving the fate to Trump: officially
Friday in the United States The Supreme Court upheld The law passed by both parties, citing national security risks due to its ties with China.
While ByteDance has suggested it will not sell TikTok, Shark Tank investor Kevin O’Leary told Fox News on Friday that it has made a $20 billion cash offer for it.
President-elect Trump said he would likely call for a 90-day postponement of the ban, which is allowed in the writing of the law. (Jap Arens/Noor Photo via Getty Images/Getty Images)
“There’s a reason Congress brought this before the Supreme Court. There’s a reason it ruled in its favor. It’s not worth the risk,” he said. “Therefore, the obvious solution is to sell it to an American syndicate in accordance with the order.”
FOX Business has reached out to Bytedance and Perplexity AI for comment.