Perplexity AI Eyes $1 Billion Funding Round, Doubling Valuation to $18 Billion

CEO Aravind Srinivas denies financial instability rumors and reaffirms no IPO plans before 2028 as the company continues rapid growth.

Perplexity AI is reportedly in discussions to raise $1 billion in funding, which would double its valuation to $18 billion in just four months.
CEO Aravind Srinivas addressed speculation about financial trouble, stating the company retains all raised funds and continues to see revenue growth.
The company has no plans to go public before 2028, according to Srinivas, emphasizing a focus on long-term strategy and stability.
Perplexity has introduced features like Auto mode to enhance user experience, countering claims that recent changes are cost-cutting measures.
Backed by high-profile investors like Jeff Bezos and Nvidia, Perplexity is intensifying competition in AI search, challenging Google with innovations in vertical-specific answer modes.