Artificial intelligence startup Perplexity AI is in talks to raise $500 million in investment at an $8 billion valuation.Artificial intelligence startup Perplexity AI is in talks to raise $500 million in investment at a valuation of $8 billion, according to The Wall Street Journal. The startup, which currently has a known valuation of $3 billion, aims to more than double its valuation.
The Silicon Valley-based startup, which has gone through 3 investment rounds this year and reached its value of 3 billion dollars with the last investment it received from SoftBank in recent months, will be in its 4th investment round this year. The startup, which received an investment of $62.7 million in January 2024 and $73.6 million in April 2024, also received investment from SoftBank last June.
The news of the startup’s planned major investment announcement comes after its rival OpenAI recently raised $6.6 billion. OpenAI, the industry leader, increased its valuation to 157 billion dollars with the investment round.
Perplexity AI’s annual revenue currently reaches approximately 50 million dollars. The AI-powered search engine, which has a chatbot-like interface, receives 15 million queries a day. The platform scans the web to find answers and provides answers in ChatGPT style.
The startup, which also offers users a premium subscription option, recently launched an enterprise version that searches internal files for corporate clients. The platform is also preparing to expand its revenue streams with the introduction of advertising.
