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Artificial intelligence (AI) startup Perplexity is reportedly seeking funding that would push its valuation to $14 billion, according to The Wall Street Journal.
Catalysts host Madison Mills breaks down what the company’s growth says about ongoing investor appetite for AI and the startup's venture into web search engines.
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Perplexity is in talks for a new round of funding that would value the AI startup at $14 billion, according to reporting from the Wall Street Journal. That represents a more than 50% increase from its valuation late last year. The new funding round, which is expected to total $500 million, is a sign of still present enthusiasm for AI companies. Some of which are leveraging the new technology to challenge Google's long-time dominance over web search. Perplexity is one such company. Its search tool provider provides users with summarized answers that include links to sites. Perplexity also plans to launch its own web browser, Comet, in a potential challenge to Google Chrome and to Apple's Safari.
Last November, Perplexity was valued at $9 billion. It's among the startups riding the wave of AI enthusiasm initiated by ChatGPT just three years ago.
And as I mentioned this, I wanted to let you know that you can find the Yahoo Finance platform to track more private company data, including valuations and funding rounds, by scanning the QR code here on your screen, and that's what that private company data will look like for you on our site.