Nvidia is in talks to invest in Perplexity at a valuation above $30 billion, The Information reports. That would be more than 50% higher than the AI search company's previous funding valuation, but the parties have not announced a completed transaction.
Perplexity's annualized revenue has reportedly risen from $250 million to more than $750 million, helped by Perplexity Computer, an agent designed to complete automated tasks. The company has raised over $1.7 billion and CEO Aravind Srinivas has discussed a possible public offering around 2028. It also joined Nvidia's Nemotron Coalition in March.
Nvidia has become a major investor across the AI market, with recent deals involving companies that consume substantial computing capacity. That creates a circular commercial element: financing can help a portfolio company expand while some of the spending returns to Nvidia through chip or system purchases. Perplexity's revenue growth supports the higher valuation argument, but prospective investors still have to assess costs, competition and whether agent usage converts into durable margins.