Nvidia discusses Perplexity stake at $30 billion-plus valuation

Nvidia is in talks to invest in Perplexity, and the number tells the story: a valuation above 30 billion dollars, up from roughly 20 billion in the September 2025 funding round. The report comes from The Information and was picked up by Reuters and others. No agreement has been confirmed yet.

Perplexity's business is growing fast: annualized revenue has climbed above 750 million dollars, from less than 250 million at the start of the year — more than a threefold increase within months. In total the company has raised over 1.7 billion dollars to date, with backers including Jeff Bezos and SoftBank.

For Nvidia this would fit a pattern rather than break one. The chipmaker has poured billions into AI companies recently — from the Poolside agreement to its stake in Starcloud's orbital data centres. Companies that take Nvidia's capital typically buy Nvidia's hardware, so part of the investment flows back as revenue. Perplexity also joined Nvidia's Nemotron coalition for open models in March, and The Information reports Nvidia even weighed an acqui-hire of the team at one point.

Alongside the equity investment, a technology licensing agreement is reportedly under discussion. Perplexity CEO Aravind Srinivas, meanwhile, is said to be planning an IPO for 2028 — "regardless of how the planned listings of OpenAI and Anthropic perform", as reports quote him.

The bigger picture: this is another building block in Nvidia's strategy of using its balance sheet to gain influence across nearly every layer of the AI economy — from chips to cloud to the search interface. For Perplexity, it would mean capital and backing in the race with Google, OpenAI and Microsoft over the future of search.