Reports indicate that AI-driven search engine developer Perplexity AI is preparing for a new funding round, targeting a valuation of $20 billion. The funds may support the company’s recent $34 billion bid to acquire Google’s Chrome browser.
This valuation is $2 billion higher than the $18 billion raised in July 2025. According to Business Insider, the company's value has increased by 3746% since January 2024, when it was valued at $520 million.
On Tuesday, Perplexity made a $34 billion unsolicited bid to acquire Google’s Chrome browser, which is at the center of Google's antitrust case. A U.S. district court judge may require Google to sell the browser to reduce its dominance in online search.
OpenAI has also shown interest in acquiring a browser, and Apollo Global Management and Yahoo may also be interested in participating.
According to data platform DemandSage, Perplexity's annual recurring revenue has reached $80 million, with 22 million monthly active users.
Cointelegraph has reached out to Perplexity and Google for comments, but has yet to receive a response as of the time of publication.
AI competition spreads to the online search market
The AI competition is gradually infiltrating the online search field. AI models like ChatGPT and Gemini often obtain information directly from the internet, providing citations that enhance the credibility of the model's responses.
In July 2025, OpenAI announced plans to launch a web browser to challenge Google Chrome. Perplexity has already released its own AI browser, Comet.
Hackers have long targeted browsers, including Chrome.
In October 2024, the Lazarus group exploited a vulnerability in Chrome through an NFT game. Months earlier, hackers stole funds from Binance accounts using a Chrome extension.