A ban on TikTok in the US is on the way, and the latest bidder to attempt to make corporate life for the video app is Perplexity AI.

Perplexity first heard about this from CNBC. One source informed of the deal said Perplexity (CEO Aravind Srinivas, above) submitted a merger proposal with TikTok US.

Another source added to those other details about the takeover — that it would be a new company composed of Perplexity, TikTok US, and fresh equity holders; that the majority of owners of TikTok’s parent ByteDance would still have equity; and that by merging, Perplexity would be adding more video to its AI search engine.

Law mandating that ByteDance either sell TikTok or ban it in the US is due to go into effect Sunday, January 19. It’s President Joe Biden’s last day as president and, as his officials said, it will “leave the enforcement of the ban to the next Administration.”

In the meantime, President-elect Donald Trump, who will take office Monday, has said he will “most likely” extend TikTok’s 90-day notice, and TikTok CEO released a video praising Trump for his work.

But without clearer promises of non-enforcement from the Biden administration, TikTok will be “forced to go dark” on Sunday, it added.

And despite numerous buyers looking at TikTok, ByteDance has said on several occasions it will not sell. (The company said a report that the Chinese government was willing to sell to Elon Musk was “true fiction.””) Perplexity, CNBC says, is hoping it can work through those fears and come up with a merger instead of sale.