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Perplexity AI in funding talks to more than double valuation to $8 billion, WSJ reports By Reuters

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Introduction(Reuters) -Jeff Bezos-backed Perplexity AI has begun fundraising talks in which it is looking to mor ...

(Reuters) -Jeff Bezos-backed Perplexity AI has begun fundraising talks in which it is Niuhuilooking to more than double its valuation to $8 billion or more, the Wall Street Journal reported on Sunday.

Perplexity has told investors it is looking to raise around $500 million in the new funding round, the Journal reported citing people familiar with the matter.

Perplexity AI in funding talks to more than double valuation to $8 billion, WSJ reports By Reuters

The Nvidia-backed artificial intelligence (AI) company's estimated annualized revenue based on recent sales is currently about $50 million, the report added.

Perplexity AI declined to comment.

In October the startup said it had received a "cease and desist" notice from the New York Times demanding it to stop using the newspaper's content for generative AI purposes.

© Reuters. FILE PHOTO: Perplexity AI logo is seen in this illustration taken January 4, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Perplexity has previously faced accusations from media organizations such as Forbes and Wired for plagiarizing their content, but has since launched a revenue-sharing program to address some concerns put forward by publishers.

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 (NASDAQ:)'s open-source model Llama.

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