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Reject that PPO and get this internship canceled and pursue a MBA instead.
The argument in favour: if you are good at your work, and your other offer is a good one also, it gives you negotiating power.

The argument against: It makes you look like an arsehole to both sides.

The catch: Neither is necessarily totally wrong.
Sensible, thank you. It is donkey work unfortunately.
What PPO doesn't have a stipulation to suspend engagement with prospective employers outside the firm. Don't do something stupid
What is this place you received a PPO from that they did not put a halt on your future internships/engagements with potential employers? Did you read your offer? You might be violating terms of it by even engaging with this internship..
PPO interview happened last week and partner confirmed I am in, OL to come in a week. They are aware I am interning in May and didn't have an issue with it, rather why they hastened the interview
If the firm you have a PPO from is a Tier II one or at par with current firm, it will be positive.

However, if your existing PPO is from a better firm, it will be taken negatively.