Perplexity, an AI-based search engine, is reportedly in talks to secure between $500 million and $1 billion in funding, seeking to elevate its valuation from $9 billion to as high as $18 billion. The company has benefited from growth in the search market, having capitalized on the advent of AI chatbots like ChatGPT. However, it's facing increased competition, with rivals such as OpenAI and Anthropic launching similar tools. To maintain its edge, Perplexity has set up a $50 million venture fund to invest in early-stage AI startups, further solidifying its position in the market.
According to recent reports, AI-based search engine Perplexity is in discussions to raise up to $1 billion, potentially increasing its valuation to $18 billion.
Since late 2022, Perplexity has seen significant growth, driven by the surge in demand for alternative search services following the rise of ChatGPT.
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