Perplexity AI seeks $1 billion at $18 billion valuation

Perplexity AI is currently discussing a new funding round that could value the company at $18 billion. This information comes from a source familiar with the situation. The startup, which is backed by Nvidia, aims to expand its reach in the growing demand for AI-driven search tools. The new valuation marks a significant increase, doubling from the previous $9 billion in November. Perplexity AI offers a service similar to ChatGPT and Google's Gemini, providing information through internet searches. It has notable investors, including Jeff Bezos and Japan's SoftBank Group. The company is looking to raise between $500 million and $1 billion in this funding round. To stay competitive, Perplexity has been enhancing its platform to better match features offered by competitors like Google's Gemini and OpenAI's ChatGPT. In comparison, OpenAI recently completed a $6.6 billion funding round, boosting its own valuation to $157 billion, making it one of the most valuable private companies globally.