Nvidia is discussing a new investment in AI startup Perplexity in a funding round that could value the company at more than $30 billion, The Information reported, citing people familiar with the discussions. The information was also confirmed by Reuters.
If the deal goes through at such a valuation, it would represent a more than 50% increase from the roughly $20 billion that Perplexity was valued at in its previous funding round in 2025.
Perplexity has become one of the fastest-growing companies in the AI search engine and digital assistant segment. According to The Information, its annual revenue growth rate is now above $750 million, up from under $250 million at the beginning of 2026. Part of this growth is associated with Perplexity Computer - a cloud-based AI agent designed to automate professional tasks.
Nvidia and Perplexity already have a close business relationship. The chipmaker is among the company's existing investors, and Perplexity is also involved in initiatives related to Nvidia's AI ecosystem. According to The Information, the two companies have intensified their cooperation in recent months, including in terms of hardware and software for artificial intelligence.
Nvidia has previously considered another option for deepening its relationship with Perplexity - licensing some of the startup's technology and hiring its employees. According to The Information, those talks later evolved into discussions of a more traditional equity investment.
Nvidia’s interest in Perplexity fits into the company’s broader strategy to invest in fast-growing AI businesses that leverage its hardware and infrastructure. Nvidia itself continues to expand its role beyond GPU manufacturing and is increasingly involved in building and financing global AI infrastructure. In August, the company announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to mobilize more than $500 billion in capital for long-term AI infrastructure.
Perplexity, meanwhile, is also preparing longer-term moves into the capital markets. Chief Executive Officer Aravind Srinivas said earlier this year that the company is considering an initial public offering in 2028, regardless of the market environment at that time.
To date, Perplexity has raised more than $1.7 billion from investors including Nvidia, New Enterprise Associates, Accel and SoftBank. The company does not train its own fundamental models entirely from scratch, but combines different models according to the specific task and integrates them into its own products and services.
Neither Nvidia nor Perplexity have yet confirmed a formal deal has been finalized. Perplexity declined to comment to Reuters, and Nvidia did not immediately respond to a request for comment.