Perplexity wrapping talks to lift $500 million at $14 billion valuation

Perplexity AI is in late-stage talks to lift $500 million at a $14 billion valuation, a supply aware of the placement showed to CNBC.

Accel, the Palo Alto-based undertaking capital company, will lead the spherical, consistent with the supply, who spoke anonymously since the spherical isn’t but finalized. The Wall Street Journal first reported at the late-stage numbers.

The investment is at the decrease finish of Perplexity’s deliberate elevate, which CNBC reported in March. During the ones early-stage talks, Perplexity used to be taking a look to lift between $500 million and $1 billion in investment at an $18 billion post-money valuation, in line with a supply acquainted.

The synthetic intelligence seek engine corporate competes in opposition to the likes of Google and Microsoft-backed OpenAI. Its valuation in December used to be $9 billion, triple its $3 billion valuation in June 2024. Perplexity has just below $100 million in annual ordinary income, or ARR, the supply informed CNBC in March.

Perplexity has been in the midst of the generative AI increase that started in past due 2022 with the release of OpenAI’s ChatGPT, and it is having a bet large on its upcoming AI agent internet browser, known as Comet. But Perplexity faces expanding festival within the AI seek marketplace.

In March, Anthropic introduced its internet seek product, permitting its chatbot Claude to show real-time seek effects to a subset of customers. Last fall, OpenAI introduced a seek function inside ChatGPT, its viral chatbot, that situated it to raised compete with Perplexity, in addition to main search engines like google and yahoo similar to Google and Microsoft‘s Bing. Google has launched AI Overviews inside its seek product as neatly, regardless that it sparked controversy over high-profile mistakes quickly after its unencumber.

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