Nvidia In Talks To Invest In Perplexity At Over $30 Billion Valuation
Nvidia NVDA.O is in talks to invest in Perplexity as part of an equity funding round that would value the artificial intelligence startup at more than $30 billion, The Information reported on Sunday, citing people familiar with the discussions.
The potential investment would mark a significant increase in Perplexity’s valuation. According to the report, the new funding round would lift its valuation by more than 50% from its previous financing a year ago.
Perplexity Revenue Surges
Perplexity’s annualised revenue has climbed to more than $750 million, up from less than $250 million at the start of the year, according to the report.
Part of that growth has come from Perplexity Computer, a cloud-based AI agent designed to help professionals automate computer-based tasks. The Information cited people familiar with the matter in reporting the revenue increase.
However, the company has not commented on the reported funding discussions. Perplexity declined to comment on The Information’s report, while Nvidia did not immediately respond to a request for comment.
Valuation Rises Sharply
The reported funding would represent a substantial increase from Perplexity’s previous valuation. The Information reported in September last year that the AI startup had finalised a $20 billion valuation.
Meanwhile, Perplexity has also expanded its commercial relationships. Earlier this year, the company signed a $750 million agreement with Microsoft MSFT.O to use its Azure cloud service, according to a Bloomberg News report.
The agreement comes as Perplexity continues to develop its AI products and expand its business.
Perplexity Eyes 2028 Listing
Perplexity is planning to go public in 2028, regardless of how investors respond to the listings of Anthropic and OpenAI, CEO Aravind Srinivas told CNBC in an interview in June.
The company’s plans for a public listing come as it seeks to build its business and increase revenue. The reported funding round could further raise its valuation ahead of those plans.
Perplexity’s high-profile backers include Amazon founder Jeff Bezos and Japan’s SoftBank Group 9984.T, alongside Nvidia.
With inputs from Reuters