Nvidia weighs new Perplexity investment at valuation above $30 billion

Nvidia is discussing another investment in Perplexity through a funding round that would value the AI search company at more than $30 billion, The Information reported.

The valuation would be more than 50% above the $20 billion figure attached to Perplexity’s previous financing in September 2025. The size and terms of Nvidia’s proposed investment have not been disclosed, and neither company has confirmed that a deal will take place.

Perplexity’s annualized revenue has reportedly risen from less than $250 million at the beginning of 2026 to more than $750 million. The Information attributed part of that increase to Perplexity Computer, a cloud-based agent that automates research and other computer tasks for professional users.

The figures have not appeared in audited financial statements. A $30 billion valuation would equal 40 times annualized revenue of $750 million. The actual multiple could be higher or lower because both numbers were reported only as minimums.

Nvidia had previously considered paying Perplexity billions of dollars to license some of its technology and hire some employees, according to The Information. It was unclear whether that alternative remained under consideration.

Nvidia is already an investor in Perplexity. The companies also have a commercial relationship, with Perplexity planning to deploy Nvidia’s Vera central processing units for AI agent workloads.

Perplexity vice president Nate Kupp told Reuters in July that Vera completed agent coding tasks about 1.5 times faster than traditional processors in the company’s tests.

Nvidia described the test as a coding workflow that involved cloning a software repository and running its test suite in sandboxes. It was a company-run comparison against x86 processors, not an independent benchmark.

Perplexity also signed a three-year, $750 million agreement earlier in 2026 to use Microsoft’s Azure cloud service and Foundry platform. The company said Amazon Web Services remained its main cloud provider.

Chief Executive Aravind Srinivas said in June that Perplexity planned to pursue an initial public offering in 2028. The proposed funding would give it additional capital to compete with AI products from OpenAI, Google, Anthropic and Microsoft.