Perplexity AI, an artificial intelligence search engine startup, is in talks to raise around $500 million in its latest funding round, aiming to boost its valuation to about $9 billion, according to CNBC.
The company, which competes with Google’s search dominance, was previously valued at $3 billion in June.
Perplexity has attracted significant investor interest as the AI sector, particularly generative AI, continues to grow.
The company has already completed three funding rounds this year, starting earlier this with a half-a-billion valuation.
However, Perplexity has faced controversy, with accusations from media outlets like The New York Times, which claim the company uses their content without permission to generate its search results. Perplexity has denied these plagiarism claims.
The Wall Street Journal was the first to report on the startup’s current fundraising efforts.