WASHINGTON (AP) — Perplexity AI has presented a new proposal to TikTok’s parent company that would allow the U.S. government to own up to 50% of a new entity that merges Perplexity with TikTok’s U.S. business, according to a person familiar with the matter.

A new TikTok proposal is on the table. Perplexity AI has proposed a merger that would give the U.S. government a 50% ownership stake.

U.S. President Donald Trump predicted on Monday there will be many people bidding to own TikTok, and he does not want China involved in the popular social media company. Trump was speaking to Republican lawmakers at his Doral golf club in Miami.