SoftBank values search startup Perplexity AI at $3 billion

0
41
SoftBank values search startup Perplexity AI at $3 billion
SoftBank values search startup Perplexity AI at $3 billion

The American search startup Perplexity AI is receiving between $10 million and $20 million at a valuation of $3 billion from SoftBank Group Corp., a Japanese technology investor, through its Vision Fund 2.

SoftBank Group Corp., a Japanese technology investor, has announced that its Vision Fund 2 will invest between $10 million and $20 million at a valuation of $3 billion in the American search startup Perplexity AI.

SoftBank Group Corp., a Japanese technology investor’s Vision Fund 2, is investing between $10 million and $20 million at a valuation of $3 billion in the American search startup Perplexity AI. SoftBank plans to contribute this sum as a component of a broader $250 million capital round, according to the article, which cited people with knowledge of the situation. The specifics of the agreement could yet alter because it hasn’t been formalized, it said.

Users can obtain immediate answers to inquiries with references and citations using Perplexity’s search capabilities. It is powered by multiple huge language models, ranging from OpenAI to Meta’s open-source model Llama, which can generate summaries and produce information. Located in San Francisco, California In January, a group of investors led by Jeff Bezos of Amazon (AMZN.O.) and Nvidia (NVDA.O.) contributed $73.6 million to Perplexity AI, valued at $520 million. The company has previously stated that in 2023, it handled over 500 million searches with minimal marketing expenditures.

Also readThe future of retail is all about tech-driven personalization and convenience, says Amit Kriplani, CTO at ace turtle

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.

CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.