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Perplexity is an AI powered hunt engine. (Image Source: Reuters)
Perplexity AI is looking to wrapper up its 4th backing circular this twelvemonth by raising implicit $500 cardinal and tripling its valuation to $9 billion.
The latest circular by the AI hunt startup is led by Institutional Venture Partners, a VC steadfast based retired of the San Francisco Bay Area successful the US, according to a study by CNBC.
Perplexity has drawn swift involvement from investors amid a caller question of AI-powered hunt engines. For context, the Jeff Bezos-backed startup’s valuation astatine the opening of 2024 was astir $500 million.
Its app has implicit 2 cardinal downloads and provides AI-generated answers to much than 230 cardinal hunt queries per month.
Search Wars 2.0
Several large AI companies are rushing to rotation retired features that usage generative AI to supply summarised hunt results.
Most recently, OpenAI announced it has built a hunt diagnostic into ChatGPT that allows users to inquire and person real-time accusation of existent quality events. However, the diagnostic is presently disposable lone for paid users of ChatGPT.
Similarly, Google announced past week that it was expanding AI Overviews to a 100 much countries. Meta is besides looking to make its ain AI hunt engine to provender its AI chatbot updated accusation from the web alternatively than beryllium connected hunt indexes maintained by Google oregon Microsoft Bing, according to a study by The Information.
The contention astir Perplexity AI
Perplexity AI has surely made waves among VC circles, and is considered to beryllium a formidable challenger to Google Search. However, the startup founded by Aravind Srinivas, an IIT Madras graduate, is facing ineligible threats from publishers specified arsenic The New York Times, Condé Nast, and Dow Jones for allegedly plagiarising contented from the media outlets.
These allegations person been denied by Perplexity, which rolled retired a revenue-sharing exemplary for publishers successful July. Based connected this model, the institution said it volition stock a percent of the advertisement gross with the steadfast of the nonfiction that has been cited successful an AI-generated reply to a hunt query.
Other AI companies person besides struck deals with publishers to licence their contented for AI use. For instance, Meta and Reuters person a concern that allows its AI chatbot to “respond to news-related questions with summaries and links to Reuters content.” Google has a akin content-licencing statement successful spot with societal media level Reddit.
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