Nvidia is discussing a new investment in Perplexity that would value the AI search startup at more than $30 billion, The Information reported August 24 — a jump from the $23 billion valuation Perplexity's last confirmed round set in January. The report, since matched by multiple outlets, says Nvidia and Perplexity also discussed a technology-licensing arrangement alongside the equity stake, though neither company has confirmed a valuation, a round size, or that any deal will close.
What each Perplexity valuation figure actually covers
- $23B · Series E-6
- Last confirmed valuation, closed January 9, 2026
Includes: A completed, priced equity round with named investors
Excludes: Any figure from the reported August talks - $30B+ · Reported, in talks
- Nvidia's discussed investment, per The Information, August 24, 2026
Includes: A single outlet's sourcing on active, unconfirmed negotiations
Excludes: Any public confirmation, signed term sheet, or closing date from either company
Nvidia is not a new name on Perplexity's cap table — it was already among the investors in the January round, alongside Jeff Bezos, SoftBank's Vision Fund 2, IVP, Accel, and Databricks. A new investment would extend an existing relationship rather than start one, which fits Nvidia's broader pattern this year of taking stakes in AI companies it also sells chips to or partners with technically, following recent deals with Poolside and others.
The reported talks come alongside a real, if self-reported, jump in Perplexity's own numbers: annualized revenue above $750 million, up from under $250 million at the start of the year, which Perplexity and reporters covering the talks attribute in part to "Perplexity Computer," the company's agentic tool, and rising token consumption as more of its usage shifts from single search answers to longer agent tasks. None of those figures are independently audited — they are the company's own reported numbers, relayed through reporting on the funding talks, not a filed disclosure.
Run the arithmetic and a $30 billion valuation against $750 million of annualized revenue is a roughly 40x revenue multiple — rich even by this year's frontier-AI standards, and one that assumes Perplexity's revenue growth (reportedly tripling over the past year) keeps compounding rather than leveling off as agent usage matures. That's the bet a $30 billion price tag actually makes, not a verdict on whether Perplexity's search-and-agent product is good; the two questions get conflated easily and shouldn't be.
- Nvidia is discussing an equity investment in Perplexity above a $30 billion valuation.
- That would be up from the $23 billion Perplexity's last confirmed round set in January 2026.
- Perplexity says annualized revenue now exceeds $750 million, up from under $250 million in January.
- A tech-licensing arrangement was also reportedly discussed alongside the equity stake.
- Caveat: this is reported, unconfirmed talks — neither company has announced a completed deal.