Perplexity AI has submitted a revised proposal concerning TikTok’s operations in the US, suggesting that the US government could own up to 50% of a new entity created by merging Perplexity with TikTok’s US business.

The proposal, shared with ByteDance last week, indicate that the government would hold non-voting shares and have no representatives on the board.

ByteDance would retain some involvement but must transfer proprietary algorithms that influence the app’s user experience.

This updated bid follows an earlier proposal made on Jan. 18, before a law banning TikTok took effect.