Perplexity, an artificial intelligence-powered search engine aiming to take on Google, is in funding discussions for the fourth time this year, looking to raise up to $1bn at more than double its previous valuation as an investor frenzy for AI start-ups shows little sign of abating.
Weeks after OpenAI sealed one of the largest fundraisings in Silicon Valley history, Perplexity had been overwhelmed by unsolicited interest from new investors, according to multiple people familiar with the situation.
It is now in talks to raise between $500mn and $1bn, which would value the company at $8bn, according to the people.
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