Perplexity AI is currently negotiating to secure funding at a valuation of $18 billion, according to a source familiar with the situation who spoke to Media on Thursday. This Nvidia-supported startup aims to expand and meet the increasing demand for its search tools. This new valuation marks a significant increase from the previous $9 billion reported by Media in November.
Perplexity is an AI company that gathers information from the internet, similar to ChatGPT and Google’s Gemini, and has backing from notable figures like Amazon founder Jeff Bezos and Japan’s SoftBank Group. The company is considering raising between $500 million and $1 billion in this funding round, as per the source.
The rising popularity of chatbots and AI agents, which can perform tasks on behalf of users, has heightened investor interest in such startups. Perplexity has been enhancing its platform features to better compete with Google’s Gemini and OpenAI’s ChatGPT, which is supported by Microsoft.
Recently, the company introduced a new web browser called Comet, designed to utilize AI for not only retrieving information but also comprehending complex queries, executing tasks, and making decisions. Its Deep Research feature can perform thorough research by conducting numerous searches and analyzing hundreds of sources to produce a detailed report.
Perplexity is among the top companies striving to compete with established players in the search engine industry, such as Alphabet’s Google. However, it has faced allegations from media organizations regarding plagiarism and content copying. In response, the company has initiated a publisher partnership program to collaborate with news organizations.
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