Perplexity AI eyes $500 million in funding amid legal tensions with news publishers

Perplexity AI is looking to wrap up its fourth funding round this year by raising over $500 million and tripling its valuation to $9 billion.

The latest round by the AI search startup is led by Institutional Venture Partners, a VC firm based out of the San Francisco Bay Area in the US, according to a report by CNBC.