Nvidia is in discussions to invest in AI search startup Perplexity in an equity funding round that would value the company at more than $30 billion, according to reporting by The Information. The proposed valuation represents an increase of more than 50% from the $20 billion valuation Perplexity finalized in late 2025.
The investment discussions coincide with rapid revenue acceleration. Perplexity's annualized recurring revenue (ARR) has expanded to over $750 million, up from less than $250 million at the start of 2026, according to people familiar with the figures cited by Reuters.
A material driver of the revenue surge has been enterprise adoption of Perplexity Computer, a cloud-based agent system designed to execute multi-step computer tasks and complex workflows autonomously. Before progressing to equity funding talks, Nvidia had also evaluated alternative structures, including technology licensing arrangements and selective talent acquisitions from the startup.
The financing talks follow several major commercial milestones for Perplexity. Earlier in 2026, the company signed a $750 million infrastructure agreement with Microsoft to run models from OpenAI, Anthropic, and xAI via Microsoft Azure and Microsoft Foundry. Along with Nvidia, Perplexity's existing investors include Amazon founder Jeff Bezos and SoftBank Group. Perplexity Chief Executive Officer Aravind Srinivas stated in June that the company is targeting an initial public offering in 2028.
