Perplexity AI wrapping talks to raise $500 million at $14 billion valuation

Perplexity AI is in late-stage talks to lift $500 million at a $14 billion valuation, a supply habitual with the condition showed to GWN Monday.

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

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

The synthetic perception seek engine corporate competes towards 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 habitual income, or ARR, the supply instructed GWN in March.

Perplexity has been in the midst of the generative AI increase that started in past due 2022 with the initiation of OpenAI’s ChatGPT, and it’s making a bet weighty on its after AI agent internet browser, known as Comet. However 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.

Closing fall, OpenAI introduced a seek component inside of ChatGPT, its viral chatbot, that located it to raised compete with Perplexity, in addition to well-known search engines like google akin to Google and Microsoft’s Bing.

Google has absolved AI Overviews inside of its seek product as neatly, even though it sparked controversy over high-profile mistakes quickly later its loose.