Nvidia Could Double Down on Perplexity. AI Startup Seeks $30 Billion-Plus Valuation.

Nvidia is reportedly considering another investment in Perplexity, a deal that could push the artificial intelligence startup's valuation above $30 billion as its revenue surges and competition intensifies across the AI search market.

The chipmaker is in discussions to participate in a new equity funding round for Perplexity, according to The Information, which cited people familiar with the talks. The potential financing would represent a jump of more than 50% from the $20 billion valuation Perplexity finalized about a year ago.

The size of Nvidia's potential investment has not been disclosed, and there is no guarantee the discussions will result in a deal. Perplexity declined to comment on The Information's report, while Nvidia did not immediately respond to Reuters' request for comment.

Perplexity's business continues to expand at a rapid pace. The startup's annualized revenue has climbed above $750 million, compared with less than $250 million at the beginning of 2026, the outlet noted. That means the company's revenue run rate has more than tripled in less than a year.

One contributor to that growth is Perplexity Computer, the company's cloud-based AI agent designed to automate computer tasks for professional users. The potential investment would also deepen an existing relationship between Nvidia and Perplexity. Nvidia is already among the startup's high-profile financial backers, alongside Amazon founder Jeff Bezos and Japan's SoftBank Group.

For Nvidia, backing companies such as Perplexity extends its reach across an AI ecosystem that remains heavily dependent on the company's chips and computing infrastructure. Nvidia has increasingly used investments and partnerships to strengthen ties with companies building AI models, applications and infrastructure, even as it remains the dominant supplier of the processors powering much of the industry's expansion.

The discussions arrive just days before Nvidia is scheduled to report quarterly earnings on Aug. 26, an event closely watched as a test of investor confidence in the enormous amounts of money flowing into artificial intelligence. Nvidia recently joined six major financial institutions in an initiative targeting more than $500 billion in AI infrastructure financing.

Perplexity, meanwhile, has been building out the infrastructure needed to support its growth. Earlier this year, the company reached a $750 million agreement with Microsoft to use the tech giant's Azure cloud services, Bloomberg News previously reported.

The new valuation under discussion would mark another dramatic increase for the startup. The Information reported in September 2025 that Perplexity had finalized financing at a $20 billion valuation. A valuation above $30 billion would add at least $10 billion to that figure in roughly a year.

Perplexity is also preparing for an eventual move into the public markets. CEO Aravind Srinivas told CNBC in June that the company plans to pursue an initial public offering in 2028, regardless of how investors respond to anticipated listings from AI rivals Anthropic and OpenAI.