Nvidia Corp is in talks to invest in Perplexity, an artificial intelligence startup. This investment could value Perplexity at over $30 billion. The funding round would mark a more than 50% increase from Perplexity's last valuation of $20 billion. This information comes from a report by The Information on August 23.
Key Details
Perplexity has seen strong revenue growth. Its annualized revenue now exceeds $750 million, up from less than $250 million earlier this year. This revenue boost is partly due to Perplexity Computer, a cloud-based AI agent that helps professionals automate tasks. Earlier this year, the startup signed a $750 million deal with Microsoft for Azure cloud services, which has strengthened its financial position.
Background
Perplexity plans to go public in 2028, regardless of market conditions. CEO Aravind Srinivas mentioned this in a June interview. Both Nvidia and Perplexity have not commented on the investment talks.
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This investment could affect valuations in the technology sector, especially in AI. Nvidia's support may improve Perplexity's market position and draw more investor interest. Investors will be on the lookout for updates on the funding round and any effects on Nvidia's other AI projects, including its recent cloud deal with OpenAI.
Based on reporting by: proactiveinvestors.co.uk, businesstimes.com.sg