Nvidia Weighs Perplexity Investment at $30B Valuation
The chipmaker is reportedly discussing an equity investment as Perplexity’s agent-led revenue growth drives a steep valuation increase.
Talks around a multibillion-dollar round
Nvidia is discussing an investment in Perplexity as part of a funding round that would value the AI search and agent company at more than $30 billion, according to The Information. The talks have also included a possible technology-licensing arrangement. Perplexity declined to comment on the report, while Nvidia did not immediately respond; the size and final structure of any investment remain unsettled.
The proposed valuation would exceed Perplexity’s previous reported mark of about $20 billion by more than 50%. The company’s annualized revenue reportedly rose from below $250 million at the beginning of 2026 to more than $750 million, with professional adoption of its cloud-based Computer agent contributing to the increase. Perplexity has said it is aiming for an initial public offering in 2028.
A relationship spanning capital and infrastructure
Nvidia is already a Perplexity investor, and the startup has been identified as an early customer for Nvidia’s Vera CPU. A new equity commitment paired with technology licensing would deepen a relationship that spans financing, hardware and software. It would also fit Nvidia’s broader strategy of backing companies that create demand for accelerated computing.
For Perplexity, the capital could support the substantial inference expense of search and computer-use agents, which must retrieve information, reason across steps and operate external tools. Yet the reported valuation sets a demanding benchmark: even at a $750 million annualized revenue rate, investors would be paying roughly 40 times that figure. The revenue estimate has not been independently verified, and early investment discussions can change or collapse.
Why it matters
Perplexity is increasingly being valued as an agent platform rather than solely as a search alternative. The reported revenue acceleration suggests computer-using agents may be creating a commercial category beyond consumer question answering. But Nvidia simultaneously acting as investor, infrastructure supplier and potential technology licensor makes the financing unusually intertwined. The eventual terms will determine whether the round primarily validates independent customer demand or reinforces a capital loop centered on Nvidia-powered computing.