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Perplexity AI triples its valuation in about 6 months with latest $500M funding round

Dec 19, 2024 - businessinsider.com
Perplexity AI has reportedly secured $500 million in its latest funding round, tripling its valuation to $9 billion within six months. The funding round, led by Institutional Venture Partners, follows a previous investment from SoftBank that valued the company at $3 billion in June. This rapid increase in valuation is part of a broader trend among AI startups, which have seen significant investments from venture capitalists and investors this year.

Other notable investments in the AI sector include Anthropic's $4 billion investment from Amazon and Elon Musk's xAI raising $5 billion, valuing it at $50 billion. OpenAI also raised $6.6 billion, reaching a valuation of $157 billion. Despite these large investments, AI startups like Perplexity and OpenAI face legal challenges, with lawsuits alleging copyright infringement related to the use of data for training AI models. Both companies have denied the allegations.

Key takeaways:

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  • Perplexity AI secured $500 million in its latest funding round, tripling its valuation to $9 billion within six months.
  • The funding round was led by Institutional Venture Partners, with previous investments from SoftBank.
  • Several AI startups, including Anthropic and xAI, have also seen significant investments and valuation increases this year.
  • Perplexity and OpenAI are facing legal challenges related to copyright infringement allegations.
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