Perplexity AI in funding talks to more than double valuation to $8 billion

Jeff Bezos-backed Perplexity AI has begun fundraising talks in which it is looking to more than double its valuation to $8 billion or more, the Wall Street Journal reported on Sunday.

Perplexity has told investors it is looking to raise around $500 million in the new funding round, the Journal reported citing people familiar with the matter.

The Nvidia-backed artificial intelligence (AI) company’s estimated annualized revenue based on recent sales is currently about $50 million, the report added.