Perplexity AI seeks valuation of about $9 billion in new funding round

October 21

The Perplexity AI logo is seen in this photo taken Jan. 4, 2024.

Dado Ruvic | Reuters

Perplexity AI, an artificial intelligence search engine startup hoping to chip away at Google’s dominance, is seeking to more than double its valuation to about $9 billion in its next funding round, CNBC has confirmed.

The company, which was valued at $3 billion in June, is now looking to raise roughly $500 million, though that could change, according to a person familiar with the matter who declined to be named because the talks are confidential.

The Wall Street Journal was first to report on the new funding round.

Perplexity started the year with a roughly $500 million valuation. Since then, the company has continued to attract investor interest alongside the bigger boom in generative AI, raising three funding rounds this year.

Perplexity is among the flood of AI startups trying to compete for a slice of the buzzy generative market, which is led by OpenAI, the creator of ChatGPT.

Despite the AI hype, Perplexity has been mired in controversy, facing a slew of plagiarism accusations from media outlets like the New York Times, which claim the company scrapes their content to generate its answers. Perplexity has denied the allegations.

WATCH: CNBC interview with Perplexity CEO

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