Nvidia Pursues $30 Billion Bet on AI Search Startup Perplexity

Nvidia Corp. (NVDA, Financials), a well-established player in the AI technology space, is reportedly exploring a significant investment in Perplexity, an AI search startup valued at over $30 billion.

The proposed deal would value Perplexity more than 50% higher than its previous financing round a year earlier. This massive valuation jump can be attributed to the company's impressive growth, with annualized revenue exceeding $750 million, up from $250 million at the start of the year.

Perplexity's cloud-based AI agent, Perplexity Computer, has been driving this growth by automating computer workloads. The firm has a direct connection with Nvidia through an investor agreement, in which Perplexity pledged to deploy Nvidia's Vera CPUs for AI-agent workloads in July.