Perplexity AI is reportedly planning a funding round that could value the AI-powered search startup at $18 billion.
The Nvidia and Databricks-backed company is in early talks to raise up to $1 billion, according to a Bloomberg report citing a person with knowledge of the matter,
This would double Perplexity’s current valuation of $9 billion. In April 2024, the company was valued at $1 billion.
The company’s annual recurring revenue has reached $100 million, according to Bloomberg.
The company's rapid growth has been attributed to its strategic expansion in AI innovation, including the development of an "agentic" browser called Comet, which promises a more personalized and efficient browsing experience.