:Jeff Bezos-backed Perplexity AI has begun fundraising talks wherein it’s trying to greater than double its valuation to $8 billion or extra, the Wall Street Journal reported on Sunday.
Perplexity has informed buyers it’s trying to elevate round $500 million within the new funding spherical, the Journal reported citing individuals accustomed to the matter.
The Nvidia-backed synthetic intelligence (AI) firm’s estimated annualized income based mostly on current gross sales is presently about $50 million, the report added.
Perplexity AI declined to remark.
In October the startup stated it had obtained a “cease and desist” discover from the New York Times demanding it to cease utilizing the newspaper’s content material for generative AI functions.
Perplexity has beforehand confronted accusations from media organizations resembling Forbes and Wired for plagiarizing their content material, however has since launched a revenue-sharing program to deal with some issues put ahead by publishers.
Perplexity’s search instruments allow customers to get immediate solutions to questions with sources and citations. It is powered by a wide range of massive language fashions (LLMs) that may sum up and generate data, from OpenAI to Meta’s open-source mannequin Llama.