Nvidia is discussing an equity investment in Perplexity as part of a new funding round that would value the AI search startup at more than $30 billion, The Information reported on August 23, 2026, citing people familiar with the discussions. Reuters also reported the talks but said it could not independently verify the details.
A Fast-Rising Valuation
The prospective round would put Perplexity’s valuation more than 50 percent above the $20 billion mark it reached in a September 2025 round, and above the $23 billion valuation reported in a subsequent January 2026 financing, according to the reporting. Perplexity’s annualized revenue has roughly tripled this year, climbing from about $250 million to more than $750 million, a jump largely attributed to “Perplexity Computer,” an AI agent product that automates multi-step professional tasks and drives significantly higher token consumption than conventional search queries. At $750 million in annualized revenue, a $30 billion valuation would price the company at roughly 40 times sales.
Nvidia is not a new backer: it previously participated in Perplexity’s Series B in January 2024, its unicorn round the same year, and an $18 billion extension round in July 2025 alongside SoftBank Vision Fund 2, NEA and IVP. Per The Information, Nvidia had also weighed a technology-licensing arrangement and hiring some of Perplexity’s staff before the conversation shifted toward a straight equity stake.
Search as AI-Agent Infrastructure
Nvidia CEO Jensen Huang has previously said in interviews that Perplexity is his personal go-to AI assistant, and Nvidia has functioned as something of a financial backstop for AI startups in recent years, investing in companies that in turn spend heavily on its chips. Perplexity CEO Aravind Srinivas has said he is considering a public listing around 2028. The talks come as Perplexity competes not only with Google and OpenAI’s distribution advantages but with agent-native search challengers such as Exa, which Nvidia’s venture arm has also backed.
As of publication, neither Nvidia nor Perplexity has confirmed the terms of the discussions publicly, and the reported valuation and structure could still change before any deal is finalized.
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