Perplexity AI, a burgeoning player in the artificial intelligence sector, is currently in advanced discussions to secure approximately $500 million in funding. This move is expected to more than double its valuation to around $8 billion.

Perplexity has demonstrated remarkable revenue growth, with annualized revenue rising from $10 million in March to about $50 million currently.

Perplexity AI emerged in 2022, founded by a quartet of visionary engineers: Aravind Srinivas, Denis Yarats, Johnny Ho, and Andy Konwinski, it operates as an AI-powered search engine that leverages Natural language processing to deliver precise answers to user queries.