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

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U.S. search engine startup Perplexity AI submitted a bid on Saturday to TikTok's Chinese parent ByteDance for Perplexity to merge with TikTok U.S., a source familiar with the company's plans told Reuters.

By merging with the U.S. arm of TikTok, Perplexity could emerge as a stronger search rival to Alphabet, a potential blow to Google stock.