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Today: May 12, 2024
January 5, 2024
1 min read

Perplexity AI: Accelerating Growth with $520M Funding from Bezos & Nvidia

TLDR:

  • Search startup Perplexity AI has raised $73.6 million in a funding round led by venture capital firm IVP, valuing the company at approximately $520 million.
  • The investors in the round included Jeff Bezos, founder of Amazon, and Nvidia.
  • Perplexity AI’s search tools use large language models to provide instant answers to user queries.
  • The company plans to use the funding to hire more staff and continue building its products.
  • Despite its rapid growth, Perplexity AI faces a challenge in the online search market where Google holds a dominant 90% market share.

Search startup Perplexity AI has raised $73.6 million in a funding round led by venture capital firm IVP, valuing the company at approximately $520 million. Other investors in the round included Jeff Bezos, founder of Amazon, and Nvidia. The company’s search tools leverage large language models to provide instant answers to user queries, and it plans to use the funding to hire more staff and further develop its products. However, Perplexity AI is up against major players like Google, which holds a 90% market share in the online search market. Despite the challenge, Perplexity AI aims to differentiate itself by fine-tuning a variety of top-performing AI models, rather than relying on a single model like Google.

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