Valuation for Perplexity AI is now at a staggering $9 billion following its most recent investment round. The search tool that competes with Google collected the funds of $500 million in fresh investment earlier this month, with Institutional Venture Partners leading the round, showcasing the excitement growing among investors on AI-powered innovation in online search.
The young startup’s value increased three times in a few months. Perplexity was valued at $1 billion in April; in June, it jumped to $3 billion when SoftBank Group Vision Fund 2 participated in financing. The current round tripled its valuation and cemented its identity as a serious player in the dense competitive world of artificial intelligence.
Perplexity’s Prowess
Perplexity AI is a startup founded in 2022 and has so far made a mark in the field by providing current and real-time information through its AI tool. Unlike traditional AI chatbots, the company tries to focus on giving real-time and accurate results which should be more appealing to users looking for trustworthy answers.
Perplexity’s mighty ascent has been done on such strong backs of investors, like SoftBank, Amazon founder Jeff Bezos, and Nvidia. Sporting such a glorious $9 billion valuation and an ambitious roadmap, Perplexity stands to be a significant player in the renascent AI landscape. Yet, its survival and sustenance of that overwhelming lead will depend on how it faces heavy competition from OpenAI(ChatGPT), Microsoft, and Google in the future.
