Nvidia in Talks to Back Perplexity at a $30 Billion-Plus Valuation

Nvidia is reportedly in discussions to take an equity stake in Perplexity as part of a new funding round that would value the AI search startup at more than $30 billion — over 50% higher than the $20 billion valuation it closed at just a year ago.

The talks come as Perplexity's annualized revenue has climbed to more than $750 million, up from less than $250 million at the start of the year, driven in part by Perplexity Computer, a cloud-based AI agent that automates computer-based tasks for professional users. Nvidia had reportedly also considered a technology licensing arrangement, and even hiring some of Perplexity's staff, before the conversation shifted toward a straight equity investment.

It would be far from Nvidia's first bet on the company: it backed Perplexity's Series B in January 2024, returned for its unicorn round two months later, and joined an $18 billion extension round in mid-2025.

Photo of Nvidia's Santa Clara headquarters via Wikimedia Commons, © Coolcaesar, licensed under CC BY-SA 4.0.