Jeff Bezos-backed Perplexity AI has reportedly submitted a $50 billion bid to merge with TikTok U.S., aiming to create a new entity with ByteDance's investors retaining stakes while boosting Perplexity's video capabilities.

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.

The company called Perplexity AI has introduced a plan to merge with TikTok US to form a new company known as the New Capital Partners. As per media statements,