Search firm Perplexity AI has renewed its push to acquire TikTok, outlining its vision for “Rebuilding TikTok in America.” As ByteDance approaches its extended deadline of April 5 to sell TikTok or see it banned here in the U.S., Oracle and its cohort of investors have emerged the frontrunners. While the three-year-old Perplexity is a longshot — with observers saying it does not have the cash on hand to purchase the social powerhouse — with deep-pocketed investors including Nvidia, Databricks and Amazon founder Jeff Bezos, it likely has access to funding should its offer be accepted.

Perplexity threw its hat in the ring to buy TikTok in January, and on Friday posted an eleventh hour argument in a lengthy blog post that spells out plans that include integrating the social media giant’s “extensive video library” into its engine to build “the best search box in the world.”

The AI startup “says it would rebuild TikTok’s ‘black box’ recommendation algorithm from scratch and would make the ‘For You’ feed open source,” writes Engadget, adding that “Perplexity also suggests it would add ‘Community Notes features’ as well as the citations used by its own search engine in an effort ‘to turn TikTok into the most neutral and trusted platform in the world.”

Perplexity makes the case that as “Little Tech,” it is “singularly positioned to rebuild the TikTok algorithm,” arguing that “any acquisition by a consortium of investors could in effect keep ByteDance in control of the algorithm.” However, with ByteDance insisting it will not include the algorithm that powers TikTok as part of any divestment or sale of the app’s U.S. operations, that conclusion is questionable.

In January, the Trump administration was reported to be working on a deal “whereby Oracle and a group of investors would acquire the majority of the company, while TikTok’s current owner, China-based ByteDance, would retain a minority share,” writes PCMag, adding that “Oracle would have responsibility for collecting data on U.S. users and the app’s algorithm, as well as software updates.”

Other interested parties include an investment group led by former Los Angeles Dodgers owner Frank McCourt that “has proposed plans to transition TikTok onto a blockchain” as a means of “liberating users’ data,” per PCMag, which also says Wyoming entrepreneur Reid Rasner claims to have “put in a bid at $47.45 billion.”

Although Perplexity hasn’t specified where its funding would come from, PCMag notes that “the startup is looking to raise funding at an $18 billion valuation,” but points out that TikTok’s U.S. operations were in January valued at up to $50 billion by Bloomberg analysts.

CNBC previously reported that Perplexity’s bid would “allow for the U.S. government to own up to 50 percent of the new company upon a future IPO.”