Financial reports or statements from Perplexity AI

Jeff Bezos-Backed Perplexity AI in Talks to Raise $500M, Double Valuation to $8B

Oct 20, 2024, 08:45 PM

Artificial intelligence search company Perplexity AI, backed by Jeff Bezos, has initiated fundraising talks to raise approximately $500 million, aiming to more than double its valuation to $8 billion, according to the Wall Street Journal. This potential investment would mark a significant increase from its previous valuation of $3 billion just a few months ago and $520 million in January. Perplexity AI's annualized revenue has also seen substantial growth, rising to $50 million today from $10 million in March. The company, which was founded in August 2022, has already completed three funding rounds this year, with its Series A led by NEA in March at a $124 million pre-money valuation. The rapid growth and innovation in the AI sector are highlighted by this development, as startups continue to attract significant investment.