Nvidia is reportedly discussing an investment in Perplexity through an equity round that would value the AI search company at more than $30 billion. The financing could total billions of dollars, although Nvidia’s potential contribution and the identities of other investors remain undisclosed.
According to The Information’s report on the discussions, the talks previously centered on Nvidia licensing Perplexity technology and hiring some of its employees. They have since shifted toward a conventional investment, though neither company has announced a completed deal.
The change comes as Perplexity’s annualized revenue has climbed from less than $250 million at the start of 2026 to more than $750 million. Perplexity Computer, the company’s increasingly ambitious AI agent, reportedly contributed to that growth.
The Proposed Round Would Reprice Perplexity by More Than 50%
Perplexity’s last major financing reportedly brought in $200 million at a $20 billion valuation in September 2025. A new valuation above $30 billion would therefore represent an increase of more than 50% in roughly one year, while pushing the four-year-old company further into the top tier of private AI businesses.
The company has raised more than $1.7 billion from investors including Nvidia, Accel, New Enterprise Associates and SoftBank. Nvidia’s relationship with the startup is not new. The chipmaker participated in Perplexity’s $73.6 million funding round in January 2024, when the company was valued at only $520 million, and later joined additional rounds.
At the minimum reported figures, a $30 billion valuation equals 40 times Perplexity’s $750 million annualized revenue. That is not a conventional trailing revenue multiple. Annualized revenue extrapolates the company’s recent sales pace and does not mean Perplexity collected $750 million during the previous 12 months. It also says nothing by itself about operating profit or cash flow.
The final economics would depend on whether the valuation is calculated before or after new capital, the round’s precise size and any special rights given to investors. None of those details has been publicly established.
Computer Has Expanded Perplexity Beyond AI Search
Perplexity initially built its reputation as an answer engine that combined large language models with real-time web search and citations. Computer changes the scope of the product. Instead of returning an answer, it attempts to complete an entire task.
When the company on February 25, 2026, it said the system could route work across 19 different AI models. Specialized agents can conduct research, analyze data, write code, create documents and perform tasks in parallel.
