The Wall Street Journal reported that Perplexity AI has initiated discussions for fundraising, aiming to increase its valuation to $8 billion or higher, which is more than double its current value.
Perplexity AI, supported by Jeff Bezos, has initiated discussions for fundraising with the aim of increasing its valuation to over $8 billion, as per the report by the Wall Street Journal on Sunday.
Per the Journal’s report citing sources familiar with the situation, Perplexity has informed investors of its intention to secure approximately $500 million in the upcoming funding cycle.
According to the report, the AI company supported by Nvidia is presently generating approximately $50 million in annual revenue from recent sales.
The startup announced in October that it had been served with a “cease and desist” letter from the New York Times, instructing them to discontinue the use of the newspaper’s content for generative AI applications.
[New Version]: To combat allegations of plagiarism from prominent media outlets like Forbes and Wired, Perplexity has introduced a revenue-sharing initiative aimed at resolving publishers’ grievances.
Perplexity’s search tools enable users to get instant answers to questions with sources and citations. It is powered by a variety of large language models (LLMs) that can sum up and generate information, from OpenAI to Meta’s open-source model Llama.
